India's economic outlook turns encouraging for new government

June 12, 2014 3:19 PM

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India's economic outlook turns encouraging for new government

NEW DELHI (Reuters) - India's new government got the best news on the economy in a year on Thursday, as industrial growth rebounded and retail inflation dropped to a three-month low - signs of an economic revival that could offset the threat of patchy summer rains.

Output from mines, utilities and factories, recovered from two straight months of contraction to expand 3.4 percent year on year in April, its fastest pace since March 2013, government data showed.

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