BIZ CLIMATE PICKS UP

Business climate has improved in April on factors such as rising production of intermediate goods, including aluminium and iron, and the government's reform initiatives, according to a report. The BluFin Business Cycle Indicator (BCI), which reflects various macroeconomic trends on a monthly basis, stood at 165.9 points in April, 5.1 per cent higher compared to the same month last year, suggesting that the Indian economy is growing at a faster rate than the previous year.
Historically, the BCI has grown by an average of seven per cent year-on-year, financial information provider BluFin said today. Moreover, BCI has been indicating a reversal in the economic slowdown since July 2012 and expects that economic growth in India to gather momentum by the second quarter of financial year 2013-14. The report pointed out some of the components with a "positive influence on the overall composite include falling international prices of crude, gold and copper and rising domestic production of intermediate goods such as aluminium and iron.