Showing spectacular turnaround, the industrial production had posted a growth rate of slightly less than 16 per cent in January this year and 17.6 per cent in December. However, this growth rate as measured by the Index of Industrial Production (IIP) is mainly due to low base in the comparable months of the previous year. Cumulatively, the industrial production during the first 11 months of the fiscal 2009-10 (April to February, 2010) registered a growth rate of 10.1 per cent compared to just three per cent in the corresponding period of the previous fiscal.
Analysts said if the ongoing double digit growth rate continued for March the economy would be on a strong wicket to record more than 7 per cent growth rate in 2009-10. The high growth rate in industrial production in February this year was largely due to a robust 16 per cent growth in the key manufacturing segment and a low base of 0.2 per cent growth rate in the corresponding month of the previous year. What is significant is that as many as 14 out of the 17 industrial groups showed positive growth in February.
Consumer durable posted an impressive growth rate of 29.9 per cent while capital goods production expanded by 44.4 per cent.
DH News Service
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