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.
The work on Sunder Nursery, a lush green refuge from urban chaos in central Delhi, started in 2007, when the Aga Khan Trust for Culture (AKTC) undertook a conservation and renewal proje
Twenty-six-year-old Surender is a ferryman in Varanasi. Surender and his family own three boats and their livelihood is dependent on taking tourists on a joyride on the Ganga. Recalling the time when he used to ride a boat with his grandfather, Surender says, “At that time Ganga water was so
The storm is yet to die out over the Mumbai Metro Rail Corporation Limited`s (MMRC) taking over 30 hectares of the famed Aarey colony, a green belt of mumbai, when another application has come in from MMRC demanding another 12,000 sq metres of land. The colony in Goregaon, inaugurated in 195
For years we had a tradition in Mumbai, particularly for all the trunk roads, to be avenues (boulevards). Though we continue to have trees in some parts of Mumbai, the fact is that we appear to have given up on this. Having trees and plants on streets and roads not only provides shade but also absorbs poll
As media reports spoke of ATMs across the country going dry, Congress leader Rahul Gandhi took a dig at the government even as the finance ministry reviewed the situation and blamed it on “unusual demand for cash”. “Desh ke ATM sab phir se khali, Benkon ki haalat kya kar da
Gandhi was, as usual, busy on several fronts in April 1918. The previous year had witnessed his frst major satyagraha after returning to India, in Champaran. The previous month had witnessed his frst major political campaign in the chosen hometown of Ahmedabad, intervening in the mill-workers strike. B