Describing the about 6 per cent growth in industrial production in November as a good sign, Finance Minister Pranab Mukherjee on Thursday indicated that the government could take some proactive steps to boost the economy.He told reporters in New Delhi that the Election Commission has imposed a Model Code of Conduct ahead of upcoming Assembly elections in five states and the government is not permitted to make policy announcements during this period. Encouraged by growth, the Planning Commission today exuded confidence that it would help improve the business sentiment and hopefully indicates an end to the slowdown.Planning Commission Deputy Chairman Montek Singh Ahluwalia said in New Delhi that this indicates that the slowdown in industry will basically come to an end during the third quarter of the financial year.The Index of Industrial Production bounced back to register a growth of 5.9 percent in November 2011 compared to the corresponding month in the previous year.Statistics and Programme Implementation Minister Srikant Kumar Jena released this data in New Delhi today. According to the data, the manufacturing sector grew by 6.6 per cent, electricity registered a growth of 14.6 per cent but the mining sector reported a negative growth of 4.4 per cent during the corresponding period.Mr Jena added that although there has been negative growth in capital goods, the basic goods, intermediate goods and consumer durables and non durables have registered a positive growth.
News On AIR | January 12, 2012 9:00 PM
Slowdown will basically end during Q 3 of financial year: Montek