New Delhi: Industrial growth recovered to 7.1% in July from the dismal
performance in previous two months of the current fiscal, even though
it moderated compared with 8.3% recorded a year ago.
The improved data may give some breather to the Government and RBI,
struggling hard to check the double-digit inflation through tightening
monetary policy, which hampers the growth process.
While the manufacturing, which contributes about 80% to IIP, grew by
7.5% in July, compared with 8.8% a year ago, electricity generation
was up by 4.5%, against 7.5%.
Mining output growth, however, was quite higher at 5% from 3.2% a year
ago.
The growth in industrial production, as measured by the Index of
Industrial Production (IIP), was low at 3.8% in May and 5.4% in June.
In April, however, industrial growth stood at 7%, more or less same as
in July.
As such, industrial growth turned out to be 5.7% in the first four
months of this fiscal, against 9.7% a year ago.
The data came close to first quarterly economic growth figures at 7.9%
and would play a crucial role for the GDP figures for the next
quarter.
If, this trend continues and other sectors like agriculture and
services also contribute, GDP figure may be quite higher for the
second quarter
No comments:
Post a Comment