Industrial growth to stay in double digit despite March drop: Plan panel

According to the Planning Commission, industrial growth will continue its double-digit run in the current fiscal as well. "We are hoping that during 2010-11, we will close the fiscal with double digit factory output," Planning Commission Deputy Chairman Montek Singh Ahluwalia said here.

The fiscal 2009-10 ended with a 10.4 per cent growth in factory output. The expansion in index of industrial production (IIP) has stayed above 10 per cent for six months in a row, peaking at 17.6 per cent in December. Though the pace of IIP growth has moderated to 13.5 per cent in March, it is considered healthy in the backdrop of uncertain recovery in several parts of the world.

On the decline in March IIP, Commerce and Industry Minister Anand Sharma said a detailed analysis would be done to look into its reasons. "We will have a comprehensive review of industrial production. We'll look at the sectors where depression (decline) has come. We will go into the reasons why it has come and look at the ways of intervention to correct it."

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