In pictures: India economy on way to recovery

People walk past the Bombay Stock Exchange (BSE) building in Mumbai on May 13, 2014. Indian shares rose as much as 2.2 per cent on Tuesday, a third consecutive record high, as stocks of companies focussed on the domestic sector surged after exit polls showed the Bharatiya Janata Party and its allies winning a majority in the elections. Danish Siddiqui / Reuters

An Indian tuberculosis patient rests at the Rajan Babu Tuberculosis Hospital in New Delhi. India must stop its doctors prescribing “irrational” treatments to cure tuberculosis, medical humanitarian group Medecins Sans Frontieres said, warning the practice is increasing drug-resistant strains of the disease. Chandan Khanna / AFP

Indian labourers work on a road widening project in Bangalore, linking the city to the international airport. Dibyangshu Sarkar / AFP

The Reserve Bank of India (RBI) seal is pictured on a gate outside the RBI headquarters in Mumbai. India’s central bank raised its policy interest rate for the second time in as many months in October, warning that inflation is likely to remain elevated for the rest of the fiscal year. Danish Siddiqui / REuter

Employees sit working in the library of the Tata Consultancy Services campus in the State Industries Promotion Corporation of Tamil Nadu IT Park in the Siruseri area of Chennai, India. Dhiraj Singh / Bloomberg

Workers grind iron bearings used in textile machinery inside a factory on the outskirts of the western Indian city of Ahmedabad on May 12, 2014. The country is on the cusp of political change that is widely expected to script an economic revival. Amit Dave / Reuters

A labourer removes dust from wheat crops at a wholesale grain market in the northern Indian city of Chandigarh. Ajay Verma / Reuters

Indian officegoers walk past the Bombay Stock Exchange (BSE) as the digital broadcast shows the 30-share benchmark index SENSEX cross 24,000 points during intra-day trade in Mumbai on May 13, 2014. India’s stock market surged for the third straight day to a record high as exit polls indicated that Hindu nationalist party leader Narendra Modi was on course to become the country’s next prime minister. INDRANIL MUKHERJEE / AFP

A worker levels the iron ore in a freight train at a railway station at Chitradurga in the southern Indian state of Karnataka. One of Narendra Modi’s main election planks is to crank up manufacturing to create millions of jobs by focusing on exporting steel, not iron ore. Danish Siddiqui / Reuters

Signs suggest the struggling Indian economy may be bottoming out. The IMF expects India’s growth rate to recover to 5.4 per cent in 2014 from 4.4 per cent in 2013.