The Reserve Bank of India Governor Raghuram Rajan said India’s macroeconomic indicators are improving and inflation has been coming down consistent with the central bank’s forecast, but Asia’s third-largest economy needs investment growth to pick up.
Rajan, however, said Friday’s industrial output and inflation data suggested that recovery was “uneven.” Output from mines, utilities and factories grew by a much slower-than-expected 0.5 percent year-on-year, government data showed on Friday, down from June’s revised 3.9 percent rise.
