IIP increases to eight month high to 2.1% in June
16/08/2016 00:04
Government data has suggested that India's industrial growth edged up to 2.1 per cent in June, an eight-month high, riding a pickup in electricity generation and showing some signs of acceleration ahead. Data released by the statistics office showed an 8.3 per cent increase in electricity production in June and a 4.7 per cent gain in mining output Manufacturing, the sector with the highest weight in the Index of Industrial Production (IIP), grew amarginal 0.9 per cent in the month. May IIP reading was revised to a 1.13 per cent increase, compared with the 1.2 per cent rise reported earlier. Commenting on the issue, ratings firm Crisil has said, "While the pace of growth still remains low, there was an improvement across the board." "Above-normal monsoon, which could improve rural demand, along with the lagged impact of interest rate reductions, salary revisions and easier monetary conditions are expected to support demand in future and boost industrial activity," it added.
16/08/2016 00:04
