Industrial production growth of 13.8 per cent encouraging: Pranab
11 Sep 2010
The growth of industrial production in the country has been extremely encouraging at 13.8 per cent in July 2010, finance minister Pranab Mukherjee said today.
Overall industrial production (IIP) in the country expanded at 13.8 per cent in July 2010 against the 7.2 per cent increase recorded in July 2009, as per quick estimates of the index of industrial production (IIP) released by the Central Statistical Organisation (CSO).
The general index of industrial production stood at 330.8 in July 2010, which is 13.8 per cent higher compared to the level in July 2009.
Industrial production growth also bounced back from a low of 7.1 per cent recorded in the previous month (June 2010).
Cumulative growth of IIP during the April-July 2010-11 stood at 11.4 per cent against 4.7 per cent during the corresponding period of the previous financial year.
This is encouraging since the overall growth of GDP in the second quarter of this year is expected to be slower than in the first quarter because of a base effect a year ago, the finance minister said.