Industrial growth declined to 2.7 per cent in November 2010 due to dismal performance of manufacturing sector, particularly the consumer non-durables. It was 11.3 per cent in the same period a year-ago while in October 2010, the Index of Industrial Production (IIP) had expanded by 11.29 per cent. According to an official data released in New Delhi today, the industrial growth during April-November of this fiscal stood at 9.5 per cent.The manufacturing consumer non-durables production declined by minus 6 per cent in the month under review. However, capital goods sector posted a growth of 12.6 per cent against 11 per cent in the same period last year.Besides manufacturing, mining growth also fell to 6.0 per cent against 10.7 per cent in the month under review. Whereas, electricity generation expanded by 4.6 per cent against 1.8 per cent.Finance Minister Pranab Mukherjee today said deceleration in industrial growth to 2.7 per cent in November and high inflation could have an adverse impact on the economy. Speaking to reporters in New Delhi, Mr Mukherjee promised to take corrective steps to push up factory output. He said, we shall have to look into and take corrective measures so that IIP numbers revive in the remaining four months.
News On AIR | January 12, 2011 12:40 PM
Industrial growth declines to 2.7 per cent