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.
India’s climate actions cut across various sectors and are being implemented through various programs and schemes of different union ministries, departments and state/ union territory governments. The government of India through concerned ministries and departments organises workshops, exhibiti
In a judgment with far-reaching implications, the Supreme Court has held that the civil consequences of an account being declared as fraud under the Reserve Bank of India (Frauds Classification and Reporting by Commercial Banks and Select FIs) Directions, 2016 or its Master Directions on Fraud amount to ci
The Dehradun-based Forest Survey of India (FSI), an organization under the Ministry of Environment, Forests and Climate Change, carries out the assessment of forest cover biennially since 1987 and the findings are published in the India State of Forest Report (ISFR). As per the latest ISFR 2021, there is a
While the average growth of energy requirement in the country for 2023-24 viz-a-viz 2022-23 has been estimated as 4.9%, the months of April and May have been projected as high demand period. During the current year, the peak demand is expected to be around 229 GW during the summer period. The government ha
As the UN has declared 2023 as the International Year of Millets, the Indian Army has steered introduction of millets flour in the rations of soldiers. This landmark decision will ensure troops are supplied with native and traditional grains after over half a century, when these were discontinued in favour
When discussing digital currency, you might think of one or two well-known varieties. There is the digital representation of currency that you access with mobile and online banking services. This currency is the liability of a commercial bank. There is also cryptocurrency, a digital medium of exchange issu