2014 the year of turn around?

“Even the darkest night will end and the sun will rise.” Victor Hugo, Les Misérables
In mid-2012, India’s economy grew the slowest in a decade, business leaders and economists were shocked to say the least. At a time when growth was projected at 6.1 per cent, India’s GDP growth grew just 5.2 per cent. In 2013, for the quarter ended June, GDP was recorded even lower at 4.4 per cent. In August 2013, HSBC’s Manufacturing Purchasing Managers’ Index (PMI), a gauge of factory activity, dipped to 48.5. A reading below 50 indicates that output shrank and it was the first time in 21 months since March 2009 that the index contracted. India was in the thralls of a slowdown akin to the one seen in the last recession in 2002-03, with some economists even describing the economy as a “gasping elephant”.
So are Indians optimistic about the economy? Inflation, which had been soaring for the past few months, has moderated after fire-fighting measures adopted by the Reserve Bank of India