IIP nosedives to 2.7 pc in November 2010

IIP

New Delhi, Jan 12 (PTI) Industrial growth in India
nosedived to 2.7 per cent in November 2010 against 11.3 per
cent in the same period a year-ago, pulled down by dismal
performance of manufacturing sector, particularly the consumer
non-durables.
In October 2010, the Index of Industrial Production (IIP)
had expanded by 11.29 per cent.
The industrial growth during April-November of this
fiscal stood at 9.5 per cent, against 7.4 per cent in the
corresponding period last year, according to an official data
released here in the Indian capital Wednesday.
In November, manufacturing growth plummeted to 2.3 per
cent against 12.3 per cent a year ago.
The manufacturing consumer non-durables production
declined by (-) 6 per cent in the month under review as
against a growth of 2.3 per cent in the same period a year
ago.
However, capital goods sector posted a growth of 12.6 per
cent against 11 per cent in the same period last year.
Besides manufacturing, mining growth also fell to 6.0 per
cent against 10.7 per cent in the month under review. Whereas,
electricity generation expanded by 4.6 per cent against 1.8
per cent.
With IIP slowing down considerably, the Reserve Bank of
India may be in a dilemma on whether or not to raise its
policy rates to fight high inflation at the upcoming quarter
policy review on January 25. PTI IND
SAK


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