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200888
Fri, 08/12/2011 - 13:10
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https://www.oananews.org//node/200888
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8.8 pc IIP growth in June "encouraging", says Pranab
New Delhi, Aug 12 (PTI) Terming the 8.8 per cent
industrial growth recorded in June as "encouraging", Finance
Minister Pranab Mukherjee on Friday said if the trend
continues, it will boost economic growth.
"It is encouraging. If this trend continues, it will give
a boost to growth," Mukherjee told reporters here.
He was commenting on the industrial growth figures for
June, which showed a moderate recovery to 8.8 per cent on the
back of the strong performance of the manufacturing sector and
better output of capital goods.
Growth in factory output, as measured in terms of the
Index of Industrial Production (IIP), stood at 7.4 per cent in
June last year, as per government data released here.
Output of the manufacturing sector, which constitutes
over 75 per cent of the index, grew by 10 per cent in June,
2011, compared to 7.9 per cent in the same month last year.
Offtake of capital goods jumped by 37.7 per cent in June,
2011, as against a moderate increase of 3.7 per cent during
the corresponding month last fiscal.
Similarly, electricity production also improved,
witnessing a growth of 7.9 per cent during the month under
review, as compared to a growth of 3.5 per cent in June, 2010.
Commenting on the latest numbers, Planning Commission
Deputy Chairman Montek Singh Ahluwalia said: "I am glad that
the latest figures show improvement. I think it is broadly
along the lines that we have been talking about for the
current year."
Ahluwalia said economic growth this fiscal would be in
the range of 8-8.3 per cent.
"I remain of the view that GDP growth in the current year
(2011-12) could vary anywhere between 8 and 8.3 per cent,
which is roughly consistent with the spot forecast of the
Prime Minister's Economic Advisory Council," Ahluwalia said.
Meanwhile, the industrial growth number for May this year
has been revised upward to 5.9 per cent from the provisional
estimate of 5.6 per cent.
During the first quarter (April-June) this fiscal, IIP
growth stood at 6.8 per cent, as against 9.6 per cent in the
corresponding three-month period last year.
industrial growth recorded in June as "encouraging", Finance
Minister Pranab Mukherjee on Friday said if the trend
continues, it will boost economic growth.
"It is encouraging. If this trend continues, it will give
a boost to growth," Mukherjee told reporters here.
He was commenting on the industrial growth figures for
June, which showed a moderate recovery to 8.8 per cent on the
back of the strong performance of the manufacturing sector and
better output of capital goods.
Growth in factory output, as measured in terms of the
Index of Industrial Production (IIP), stood at 7.4 per cent in
June last year, as per government data released here.
Output of the manufacturing sector, which constitutes
over 75 per cent of the index, grew by 10 per cent in June,
2011, compared to 7.9 per cent in the same month last year.
Offtake of capital goods jumped by 37.7 per cent in June,
2011, as against a moderate increase of 3.7 per cent during
the corresponding month last fiscal.
Similarly, electricity production also improved,
witnessing a growth of 7.9 per cent during the month under
review, as compared to a growth of 3.5 per cent in June, 2010.
Commenting on the latest numbers, Planning Commission
Deputy Chairman Montek Singh Ahluwalia said: "I am glad that
the latest figures show improvement. I think it is broadly
along the lines that we have been talking about for the
current year."
Ahluwalia said economic growth this fiscal would be in
the range of 8-8.3 per cent.
"I remain of the view that GDP growth in the current year
(2011-12) could vary anywhere between 8 and 8.3 per cent,
which is roughly consistent with the spot forecast of the
Prime Minister's Economic Advisory Council," Ahluwalia said.
Meanwhile, the industrial growth number for May this year
has been revised upward to 5.9 per cent from the provisional
estimate of 5.6 per cent.
During the first quarter (April-June) this fiscal, IIP
growth stood at 6.8 per cent, as against 9.6 per cent in the
corresponding three-month period last year.
