Press Esc to close
Wednesday 26 November 2014
News updated at 7:25 PM IST
Weather
Max: 29.1°C
Min : 17°C
In Bengaluru
Sunny day

Growth to show improvement in current fiscal: Montek

New Delhi, Apr 1, 2013 (PTI)

Even as he described the industrial growth figure for February as "very low", Plan panel Deputy Chairman Montek Singh Ahluwalia took heart that it was not in the negative, and expressed confidence that India's economic growth would be higher in the current fiscal.

"I think it (IIP growth in February) is consistent to what we have been saying that 2012-13 was not a good year and (the economic growth in) 2013-14 would be a lot better...I am glad that it (IIP) is not negative but it is very low," Ahluwalia told reporters here.

According to official data released today, industrial growth has slipped to 0.6 per cent in February this year due to contraction in power generation and mining output and poor performance of manufacturing sector.


Factory output, as measured by the Index of Industrial Production (IIP), had grown by 4.3 per cent in February last year. IIP had growth at 2.4 per cent in January this year.
"Obviously the industrial growth is very low. It is due to mining sector. There are problems in mining sector which I hope will get sorted out", Ahluwalia said.

The mining output in February this year too contracted by 8.1 per cent, compared to a growth in production by 2.3 per cent in the same month of 2012.

For the April-February period, the production in the sector showed a decline of 2.5 per cent, against contraction of 2.1 per cent in the year-ago period.

Go to Top

Photo Gallery
It is business as usual in Leopold Cafe on the eve of the anniversary ...

It is business as usual in Leopold Cafe on the eve of the anniversary ...

England's captain Alastair Cook (R) talks with his teammate Ravi Bopara...

England's captain Alastair Cook (R) talks with his teammate Ravi Bopara...

Models pose with a car during the inauguration of the Lamborghini showroom...

Models pose with a car during the inauguration of the Lamborghini showroom...

Women from the Delhi police force, undergo martial arts training...

Women from the Delhi police force, undergo martial arts training...

Indian tennis player Sania Mirza blows whistle to joins campaign...

Indian tennis player Sania Mirza blows whistle to joins campaign...

Children rights activist Baburaj, Good Sheperd High School headmistress ...

Children rights activist Baburaj, Good Sheperd High School headmistress ...

A Sun Bird sits on a branch of Jacaranda flower tree...

A Sun Bird sits on a branch of Jacaranda flower tree...

BJP MP'S meeting in Parliament house...

BJP MP'S meeting in Parliament house...

Bipasha Basu and Milind Soman at Pinkathon announcement

Bipasha Basu and Milind Soman at Pinkathon announcement

Modi with BJP leaders at an election rally in Jharkhand

Modi with BJP leaders at an election rally in Jharkhand

Copyright 2014, The Printers (Mysore) Private Ltd., 75, M.G Road, Post Box 5331, Bengaluru - 560001
Tel: +91 (80) 25880000 Fax No. +91 (80) 25880523