IIP figures disappointing: Pranab

Union finance minister Pranab Mukherjee today said that the industrial production figures for April were disappointing. He said that the government will take steps to kick-start the economy. However, he also said that the performance of public sector banks is encouraging. Industrial production growth rate slowed down sharply to 0.1 percent in April due to contraction in capital goods and dip in manufacturing output, reflecting the sluggish state of the economy.