Monthly numbers do not reflect correct picture

New Delhi (PTI) While expressing disappointment
at India's low 1.6 per cent industrial output growth during
December, Indian Finance Minister Pranab Mukherjee on Friday
said monthly numbers do not reflect correct picture of the
economy.
"IIP numbers are very unfortunate and it is disappointing
but it was on expected lines as it was on yearly basis,"
Mukherjee told reporters here.
Industrial production, measured by the index of
industrial production (IIP), slowed to a 20 month low of 1.6
per cent in December, from 2.7 per cent in November 2010.
"Monthly and weekly numbers do not reflect correct
picture. Therefore you shall have to take the whole year into
account. Let us see how it reflects in the annual picture,"
the Finance Minister added.
IIP expansion in December declined to 1.6 per cent, from
18 per cent in the same month last year. The growth was also
low at 2.7 per cent in November.
However, the industrial output expansion was in double
digit in April, May, July and October months of 2010-11.
The growth in the April-December period was at 8.6 per
cent, unchanged over the year ago period.
The advance estimates by Central Statistical Organisation
(CSO) has estimated the country's economic growth for the
current financial year at 8.6 per cent, as against 8 per cent
a year ago.