Economy

Industrial production grows 4.3% in August'17

Industrial production grows 4.3% in August'17

A Reuters poll of economists which had projected inflation at 3.60 per cent.

The consumer price index climbed 3.28 percent year-on-year, same as in August, which was revised from 3.36 percent.

The August mining sector output is at 9.4 per cent against 4.8 per cent in July, while the manufacturing sector output is at 3.1 per cent, against 0.1 per cent in July.New Delhi: The green shoots of recovery are visible in the Indian economy as the just disclosed September Consumer Price Index (CPI) data has shown.

Factory output growth measured in terms of Index of Industrial Production (IIP) rose in August mainly on account of improvement in performance mining, electricity and capital goods.

The International Monetary Fund (IMF) on Tuesday also cut its growth forecast for the Indian economy by half a percentage point to 6.7% for 2017-18, blaming the lingering disruptions caused by demonetisation of high value currencies previous year and the roll out of the GST.

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The rate of price in vegetables softened to 3.92 per cent (from 9.97 per cent in August). The drop in inflation could also raise demands for a rate cut now from the Reserve Bank of India that had kept the benchmark rates unchanged due to rising inflation trend.

Primary goods' production grew sharply at 7.1 percent in August as compared with 2.3 percent jump last month.

Among non-food categories, the "fuel and light" segment's inflation rate accelerated to 5.56 per cent in September.

As food prices remained steady, the country's retail inflation also remained flat at 3.28% in September.

The government today revised July's factory output growth to 0.9 percent in July, as compared with an earlier estimate of 1.2 percent.


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