In a clear indication of economic recovery, the Index of Industrial Production grew at 10.4 per cent in August this year, against 1.7 per cent in the same month a year ago on account of robust activities in core sector.The index of consumer goods increased by 8.5 per cent, compared to 6.4 per cent growth in August 2008, while consumer durable grew by 22.3 per cent against 3.9 per cent. Mining was up at 12 per cent in August this year, against 2.8 per cent during the same month last year, while electricity generation increased by 10.6 per cent against 0.8 per cent. Manufacturing production rose 10.2 per cent in August as against last year.Reacting to the Industrial growth, Finance Minister Pranab Mukherjee said it is a recovery process from the earlier slowdown caused by the global financial crisis and possibly there could be some higher growth projection. Mr. Mukherjee told reporters in New Delhi that when the final figure of second quarter will be available, perhaps there will be some higher growth. Finance Secretary Ashok Chawla said that there is a possibility of industrial production to move up.Director General of CII, Chandrajit Banerjee has said that the double digit growth of IIP during the month of August, 2009 reinforces industrial revival and economic recovery. The ten per cent plus growth in Manufacturing, Basic Goods, Mining, and Electricity has been buoyed by Government's stimulus packages announced earlier. He argued that it is important to nurture this economic recovery by continuing with the current fiscal and monetary space which has been given to industry to recover, especially during a year of poor monsoons which could impact agricultural growth. He said, CII hopes that the RBI would give the welcome signal of an accommodative monetary policy when the half yearly review is done on 27th of this month.