Press Esc to close
Friday 12 February 2016
News updated at 3:14 AM IST
Weather
Max: 33°C
Min : 20°C
In Bengaluru
Partially cloudy

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
Relatives of Lance Naik Hanumanthappa Koppad mourn his death at his home in Betador in Hubli...

Relatives of Lance Naik Hanumanthappa Koppad mourn his death at his home in Betador in Hubli...

Vehicles stranded at Jawahar Tunnel, which connects the valley to the rest of the country during...

Vehicles stranded at Jawahar Tunnel, which connects the valley to the rest of the country during...

Girls taking selfie during the lok Mela at Punjabi University in Patiala...

Girls taking selfie during the lok Mela at Punjabi University in Patiala...

President Pranab Mukherjee walks at the Mughal Gardens at Rashtrapati Bhavan during its press...

President Pranab Mukherjee walks at the Mughal Gardens at Rashtrapati Bhavan during its press...

Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi inspects guard of honour during...

Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi inspects guard of honour during...

Gold medal winners Prarthana Thombare and Sharrmadaa Baluu of India, pose during the presentation...

Gold medal winners Prarthana Thombare and Sharrmadaa Baluu of India, pose during the presentation...

Bangladesh Goalkeeper Md Rasel Mahmud in action against Nepal during the group matches of the...

Bangladesh Goalkeeper Md Rasel Mahmud in action against Nepal during the group matches of the...

Shooters of India and Pakistan take part in the individual 25m center fire pistol men's...

Shooters of India and Pakistan take part in the individual 25m center fire pistol men's...

Sri Lanka's Nalantha De Silva, right approaches as India's P.L.Thiamanna, tries to control the...

Sri Lanka's Nalantha De Silva, right approaches as India's P.L.Thiamanna, tries to control the...

T Gopi of India winner of gold medal (front ) and Suresh Kumar of India winner of silver medal...

T Gopi of India winner of gold medal (front ) and Suresh Kumar of India winner of silver medal...

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