Press Esc to close
Sunday 29 March 2015
News updated at 7:07 AM IST
Weather
Max: 33.9°C
Min : 20.1°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
Brand ambassador Pranitha subhash at Jewels exotica Akshaya Tritiya jewellery shopping...

Brand ambassador Pranitha subhash at Jewels exotica Akshaya Tritiya jewellery shopping...

Bollywood actor Katrina Kaif with her wax model at Madame Tussauds in London...

Bollywood actor Katrina Kaif with her wax model at Madame Tussauds in London...

Models at a fashion show at IIFT in Bengaluru on Friday night...

Models at a fashion show at IIFT in Bengaluru on Friday night...

People watch the PSLV-C27 take off carrying India's fourth navigational satellite in Sriharikota...

People watch the PSLV-C27 take off carrying India's fourth navigational satellite in Sriharikota...

A view of Vidhan Soudha which was powered off during the Earth hour in Bangalore...

A view of Vidhan Soudha which was powered off during the Earth hour in Bangalore...

Security persons recover articles after an encounter with the Maoists in Latehar...

Security persons recover articles after an encounter with the Maoists in Latehar...

Dancers perform during  procession to mark the Hindu festival of Ram Navami in New Delhi

Dancers perform during procession to mark the Hindu festival of Ram Navami in New Delhi

Youths participate in a rally during Northeast NSS Festival in Agartala on Saturday...

Youths participate in a rally during Northeast NSS Festival in Agartala on Saturday...

Artists dressed as Hindu gods on the occasion of Rama Navami festival in Bengaluru on Saturday...

Artists dressed as Hindu gods on the occasion of Rama Navami festival in Bengaluru on Saturday...

Artists performing ballet 'Durga Saptashati' in Bhopal on Friday evening...

Artists performing ballet 'Durga Saptashati' in Bhopal on Friday evening...

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