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.
Sections of the news media have degenerated into becoming the pet performing poodle of the government, says Manish Tewari, former information and broadcasting minister and a member of the Lok Sabha. In a webinar chat with Kailashnath Adhikari, MD, Governance Now, on Friday as part of the Vis
India has been hitting upwards of 90,000 fresh cases of Covid-19 every day for some time now, as the virus continues to spread amid further Unlock. The recoveries, on the other hand, are also creating new records. The country recorded 96,424 new cases of infection – the highest single-
India once again registered 90,000-plus fresh cases of Covid-19 in a day, even as the number of recoveries too registered a new high – 82,961. The number of those who have recovered so far is now nearly four times higher than the number of active cases. India continues to record a spat
The fall of financial institutions is largely a result of governance failures and company board members must ensure checks and balances for the larger ecosystem, says entrepreneur Shachindra Nath, executive chairman and managing director, U GRO Capital. In an webinar chat with Kailashnath Ad
As parliament on Monday commenced its special session amid the raging Covid-19 pandemic, prime minister Narendra Modi underlined the importance of debate in the house, saying that it is “beneficial” for the country. “Several important decisions will be taken in this session
As coronavirus refuses to abate, Maharashtra has become the first state in India to cross 1 million mark in terms of confirmed cases and stares at shortage of medical oxygen. Every day 2,000-3,000 new patients require oxygen support across the state. Those in a critical condition need 40-60 litres of oxyge