IIP Recorded Positive Growth In November - Jan 13, 2009

The Index of Industrial Production numbers for November 2008, stood at 2.4% as compared to negative 0.4% of previous month. It was 4.9% during the corresponding month of previous year. Mining output is higher 0.5% as against 6.3% of previous year and manufacturing output is up 2.4% against 4.7% (YoY). Capital goods output is down 2.3% vs 24.2% (YoY) and consumer goods output is up 4.4% vs negative 2.9% for the corresponding month of previous year. In line with this, the growth in the consumer segment was lower than the average 6.2% YoY increase in the April-October months. However, monthly momentum in capital goods rose 3.5% mom versus a 9.3% mom fall in October.

In November, the monthly momentum grew 1.7% month on month versus a 3% MoM fall in October. In line with this, for the April-November months, IIP rose 3.9% YoY versus 9.3% YoY in the same period previous year.

India Achieve An Average Of 8-9 Per Cent Growth - Aug 09 , 2008

In the next 12 months, India will achieve an average of 8-9 per cent growth, and in the remaining four years of the 11th Plan, it will clock 9 per cent, Arvind Virmani, Chief Economic Advisor of the Union Finance Ministry, has said. Delivering his keynote address at a session on the ''State of the Indian Economy'' organised by the Confederation of Indian Industry (CII) here on Thursday, he said: "Don''t get confused by the cyclical trends and projections. We have not revised the range. After the release of the Index of Industrial Production (IIP) figure, we may revise it.

At present, our priority is to control inflation. However, I am confident that the growth will be in the bottom range of 8 per cent for the current year and an average of 9 per cent will be met by the 11th Plan Period. In the next 12 months, inflation will be in the range of 5-6 per cent"

Infrastructure Growth Declines To 3.5PC - July 10, 2008

Poor growth rate in electricity generation joined with petroleum refinery products production becoming almost stagnant, the overall index for six infrastructure industries grew by 3.5 per cent in May 2008 as against 7.8 per cent in May last year. Electricity sector, which takes 10.17 per cent weight in the Index for Industrial Production (IIP), highest among the six core sector industries which together take a weight of 26.68 per cent in the IIP, has recorded a growth of 2 per cent in May this year as against 9.3 per cent in the same month last year. The growth in petroleum refinery production became almost stagnant with a 0.1 per cent output growth as compared with 14.9 per cent in May last year.

The growth rate in the cement sector also declined during the month to 3.8 per cent from 9.9 per cent in the same month last year, while finished steel production grew by 5.2 per cent as against 8.4 per cent in May last year. For the first two months of the current fiscal April and May the overall growth of the core sector index stood at 3.5 per cent as against 6.9 per cent in May last year.