11.5.13

March 2013 IIP figures



Industrial growth bounced back to a five-month high in March, but a sharp decline in passenger car sales in April came as a reminder that a return to rapid growth is far from imminent for the Indian economy that is growing at its slowest in a decade.


Output at factories, utilities and mines rose 2.5% in March from a year ago....significantly bettering the 0.5% rise in February. The February figure was revised downwards. Industrial growth for 2012-13 was only 1%, suggesting GDP growth for the fiscal is likely to be around 5% as indicated by the statistics office. The finance ministry had hoped for a higher figure. Manufacturing rose 3.2%, electricity output was up 3.5%, while mining fell 2.9%, evidence of a continuing supply side drag on the economy.


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