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Industrial output up 5.6% in July
New Delhi, Sept 12: The country`s industrial output rose 5.6 per cent in July boosted by robust manufacturing sector growth, government data showed on Friday.
New Delhi, Sept 12: The country’s industrial output rose 5.6 per cent in July boosted by robust manufacturing sector growth, government data showed on Friday.
But the figure was below the 7.1 per cent growth logged in the same month a year ago, data released by the Central Statistical Organisation showed. Output between April and July was 5.6 per cent compared with 5.0 per cent a year earlier.
Industrial output has been maintaining a steady pace over the past few months. It grew 5.7 per cent in May and June, and 4.9 per cent in April.
Manufacturing, which accounts for 80 per cent of the industrial output index, grew 6.8 per cent in July compared with 6.7 per cent in the same month last year.
Industry accounts for 27 per cent of the gross domestic product but contributes a large chunk to the government revenues as the key farm sector is untaxed.
The electricity sector was the only laggard, declining by 1.9 per cent in July compared with growth of 6.1 per cent in the same month a year earlier while mining rose a paltry 2.6 per cent compared with a surge of 12.1 per cent in the year-ago period.
The central bank expects the economy to grow 6.0-6.5 per cent in the financial year to March, 2004 on the back of good southwest monsoon rains, a key influence on the country's economic performance.
Bureau Report
Industrial output has been maintaining a steady pace over the past few months. It grew 5.7 per cent in May and June, and 4.9 per cent in April.
Manufacturing, which accounts for 80 per cent of the industrial output index, grew 6.8 per cent in July compared with 6.7 per cent in the same month last year.
Industry accounts for 27 per cent of the gross domestic product but contributes a large chunk to the government revenues as the key farm sector is untaxed.
The electricity sector was the only laggard, declining by 1.9 per cent in July compared with growth of 6.1 per cent in the same month a year earlier while mining rose a paltry 2.6 per cent compared with a surge of 12.1 per cent in the year-ago period.
The central bank expects the economy to grow 6.0-6.5 per cent in the financial year to March, 2004 on the back of good southwest monsoon rains, a key influence on the country's economic performance.
Bureau Report