India is no case for stimulus: Montek

The factory output measured in term of Index of Industrial Production IIP,declined by 3.5 per cent in March,2012,against an impressive growth of 9.4 per cent a year ago.

The IIP growth for the entire 2011-12 too was very low at 2.8 per cent as compared to 8.2 per cent in the previous fiscal.

On the eurozone crisis effects,he said,8221;I don8217;t think that you can link that to negative IIP. It is clearly an important factor which is depressing investment sentiment.8221;

Ahluwalia stressed on the need for a lot of measures at domestic front for removing supply side bottlenecks to revive the economy.

8220;I think for most of the revival,we have to focus on things that we need to do domestically to remove supply side problems. IIP numbers8230; point to urgency of trying to do more to get the economy back on track,8221; he added.