Driven by an extremely robust performance of the manufacturing sector, the country's industrial production surged by a stunning 16.8 per cent in December 2009, against a contraction of 0.2 per cent in the same month a year ago.<br/><br/>The manufacturing sector grew 18.5 per cent during December 2009, against a fall of 0.6 per cent in the year-ago period. Within this category, the consumer durables segment zoomed 46 per cent, against a dip of 4.2 per cent in December 2008.<br/><br/>Capital goods production surged 38.8 per cent in December 2009, against 6.6 per cent a year ago. Mining grew 9.5 per cent, against 2.2 per cent a year-ago, and electricity generation by 5.4 per cent, against 1.6 per cent. The dazzling industrial growth reflects the results yielded by the three stimulus packages of the government to perk up industry, which was hit by the global economic downturn.<br/><br/>For the first nine months of the current fiscal, industrial growth stood at 8.6 per cent, against 3.6 per cent a year earlier. <br/><br/>Meanwhile, Finance Minister Pranab Mukherjee today described the industrial output in December as encouraging and said it would have a positive bearing on the economic growth figures for the current fiscal. Talking to reporters in New Delhi, Mr Mukherjee said IIP growth rate in December is quite encouraging. He expressed hope that third quarter GDP figures will also be encouraging. <br/> <br/>AIR correspondent repots Mr Mukherjee, who is gearing up to present the Budget 2010-11 on February 26, suggested that the higher industrial output during the month might push up the GDP for the third quarter and subsequently for the fiscal. <br/>
News On AIR | February 12, 2010 2:43 PM
‘India's industrial growth surges by 16.8% in December