Main News industrial growth of India catapulted to a 22-month high of 10.4 percent in August
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| industrial growth of India catapulted to a 22-month high of 10.4 percent in August |
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 industrial growth catapulted to a 22-month high of 10.4 percent in August, clearly showing that stimulus measures have yielded results which may make up for the likely decline in farm output in months to come. "This is a very good Diwali gift," Planning Commission Deputy Chairman Montek Singh Ahluwalia said.Even though part of the rise is due to low base effect as the index of industrial production (IIP) grew by just 1.7 per cent a year ago, the impact of stimulus measures is also evident as there was all-round rise in factory production. Manufacturing output grew by 10.2 per cent industrial growth catapulted to a 22-month high of 10.4 percent in August, clearly showing that stimulus measures have yielded results which may make up for the likely decline in farm output in months to come. "This is a very good Diwali gift," Planning Commission Deputy Chairman Montek Singh Ahluwalia said. Even though part of the rise is due to low base effect as the index of industrial production (IIP) grew by just 1.7 per cent a year ago, the impact of stimulus measures is also evident as there was all-round rise in factory production. Manufacturing output grew by 10.2 per cent in August, mining by 12.9 per cent and electricity production by 10.6 per cent. Of 17 industry groups, 14 showed positive growth.(air) |