Manufacturing sector crosses 10.6 per cent as festive spirit lifted India
GN Staff | December 11, 2015
Bouncing back from the four-month lows, the index of industrial production (IIP) for October stood at 9.78 percent versus September’s figure of 3.6 percent (month-on-month). This raises hopes that India’s gross domestic product (GDP) growth during the December quarter would exceed the previous quarter’s 7.4 per cent.
The higher figure came on expected lines due to pre-festive ramp-up and growth in mining, electricity as well as the favourable base. Furthermore, the government revised September IIP growth to 3.84 percent from 3.6 percent.
The growth rate for October this year looked even better because the country’s industrial production had contracted 2.7 per cent in the same month last year. During the first seven months of the current financial year, IIP rose 4.8 per cent, compared with 2.2 per cent in the corresponding period of last financial year.
In October, manufacturing rose 10.6 per cent, electricity nine per cent, and mining 4.7 per cent. The rise was mainly because of high 42.2 per cent growth seen in consumer durables, and 16.1 per cent expansion in capital goods.
In value terms, industry grew 6.80 per cent in the September quarter of the current financial year, according to GDP data for the three-month period, against 6.5 per cent in the June quarter. Industry accounts for almost 32 per cent of GDP these days.
India’s GDP for the September quarter grew at 7.4 per cent — a tad higher rate than the seven per cent seen in the previous quarter — with a boost in manufacturing and financial services. Manufacturing grew 9.3 per cent, compared with 7.2 per cent in the previous quarter, and 7.9 per cent in the same period last year.
At one time these pale rooms of the Delhi commission for women looked like sleepy corners of officialdom; they are now best described as a bustling sarkari office. The woman who transformed this moribund organisation hardly looks like a powerful leader. Dressed in casual blue jeans and loose deni
Tata Trusts and People For Animals (PFA) announced their collaboration to build a state-of-the-art, multi-specialty veterinary hospital and emergency clinic at Navi Mumbai to serve the needs of all domestic and farm animals at affordable rates. The hospital will be built in Kala
A long queue of women, infants in their arms, extends outside the immunisation room at the community health centre (CHC) in Bhangel village, Noida, a pink double-storey building beside a bustling market. Unmindful of the chit-chatting and baby babble, Mariamma Samuel, an auxiliary nurse-cum-midwi
Do you think fugitive industrialist Vijay Mallya will be extradited from Britain to India?
Before privatisation and corporatisation, the Indian Railways need to undertake major reforms including commercial accounting, decentralisation and human resource among others, said Bibek Debroy, economist and member, NITI Aayog at Railways Reforms and Governance Conclave organised by Governance Now on Fri
NTPC Ltd has raised Rs 2,000 crore through green masala bonds in overseas market under its $4 billion medium term note programme, union minister Piyush Goyal informed the Lok Sabha. The proceeds of these bonds will be used for financing renewable energy projects in accordance with applicable