Inflation numbers continue to be a worry, but industrial data numbers may give some hope. The finance ministry''s biggest concern now is the fact that rising inflation will start eating into the economic growth numbers.
But on April 11, the fresh set of industrial growth numbers for the month of February does not support this fear. One big respite, for investors, policymakers and the government, as India''s industrial growth is back on track chugging along at nearly 9 per cent.
In February this year, industry grew 8.6 per cent against 5.8 per cent in the previous month. Not just this, even consumer non-durables that is mostly the FMCG market, has grown at a rapid clip of 11 per cent reflecting largely the consumption rate of masses and changes in lifestyle.But the big worry for the government is about the other big number. Inflation is high at 7.4 per cent for March 29 driven largely by vegetable prices and the prices of steel and other metals. So, expect the government''s drive to cool inflation to continue and perhaps some action soon from the RBI.
But on April 11, the fresh set of industrial growth numbers for the month of February does not support this fear. One big respite, for investors, policymakers and the government, as India''s industrial growth is back on track chugging along at nearly 9 per cent.
In February this year, industry grew 8.6 per cent against 5.8 per cent in the previous month. Not just this, even consumer non-durables that is mostly the FMCG market, has grown at a rapid clip of 11 per cent reflecting largely the consumption rate of masses and changes in lifestyle.But the big worry for the government is about the other big number. Inflation is high at 7.4 per cent for March 29 driven largely by vegetable prices and the prices of steel and other metals. So, expect the government''s drive to cool inflation to continue and perhaps some action soon from the RBI.
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