Moneylife » Companies & Sectors » Sector Trends » India's IIP growth slows to 0.1% in April
India's IIP growth slows to 0.1% in April
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| 16/06/2012 12:26 PM |
The slowdown in industrial production is likely to put pressure on the Reserve Bank to cut lending rates at its mid-quarterly review on 18th June
New Delhi: India's industrial production growth rate slowed down sharply to 0.1% in April due to contraction in capital goods and dip in manufacturing output, reflecting the sluggish state of the economy that may prompt the Reserve Bank of India (RBI) to cut lending rates, reports PTI.
Growth in factory output, as measured by the Index of Industrial Production (IIP), was 5.3% in April last year.
The manufacturing sector, which constitutes over 75% of the index, grew barely 0.1%, as against 5.7% in April 2011, according to the official data released on Tuesday.
The capital goods output declined by 16.3% as against a growth of 6.6% in the same month last year. Mining output contracted by 3.1%in April, as against growth of 1.6% in the same month a year ago.
The slowdown in industrial production is likely to put pressure on the Reserve Bank to cut lending rates at its mid-quarterly review on 18th June.
However, consumer goods production showed a faster growth rate of 5.2% in April, compared to 3.2% in the same month last year.
The consumer durables segment also expanded by 5% in April, as against 1.6% in the same month last year.
Power generation witnessed a slower growth of 4.6% during April, compared to 6.5% in the same month a year ago.
In all, 12 of the 22 industry groups in the manufacturing sector have shown positive growth during April as compared to the same month a year ago.
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MDT 1 year ago
Thanks to all who have expressed their views here. However, we are finding that many people are using pseudonym or fake identity just to abuse someone or post nasty comments. In addition we are also finding there are too many 'vested interests', which are using this space. Therefore we have decided to close comments on this article. In case you still want to express your views kindly write to the Editor (mail@moneylife.in).
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Moneylife Digital Team
Gyan Mitra 1 year ago
Any transportation system that has a consistent demand exceeding supply, potentially has great opportunity for growth, provided innovation is invited to ensure safety, increase carrying capacity and improving services.
surajit som 1 year ago
shri Malik,i see you under attack by some phony-sounding names. this means that you are doing a good job. keep it up.
Gunda 1 year ago
Sure Sucheta, watch this space for hard hitting stuff sometime in the future. But lets hope dear Veeresh won't be trolling us further with more fanciful tales on the railways.
But then, this is your magazine and your site and I wish you good luck. And you too Veeresh. Atleast your heart seems to be in the right place.
Sucheta Dalal 1 year ago in reply to Gunda
Not this space. You have to write your own articles, to be published separately. Of course, you will be open to the same sneering and attacks from readers like yourself.
Incidentally, just FYI - veeresh malik is the only senior journalist i know who really loves railway journeys. He also travels without reservation, sweats it out non-ac unreserved. spends time visiting railway yards, talking to loco drivers and chatting up people on the way.
Do you??
He loves to travel - has been a sea farer, is an RTI activist and has commuted every week between Pune & Delhi for several years.
Gunda 1 year ago in reply to Sucheta Dalal
If I write something that I have no clue about, then I will deserve all the scorn that someone heaps on me. So yes, when the time comes, separate articles are the way we will do it. If the time comes. So far, I have only seen commentary on my terse corrections from the editor, not on the article they were posted for. Should I assume you agree with his facts and statements?
And if so, will you allow me to write something on how poor kids from Dharavi are subsidizing India's manned Jupiter space mission on which the president is to take her family along for yet another foreign trip? I have secret sources who have given me the inside scoop.
As for travelling, and in unreserved coaches, naah! I just sit in my swanky air conditioned MNC India HQ office, completely isolated from the unwashed masses dreaming up fanciful troll arguments on absolutely factually correct articles. Yep, thats it! That's what I do.
sucheta dalal 1 year ago
Mr Gunda or whoever
Since you seem to know so much about the railways, how about doing a few hard-hitting think pieces for Moneylife instead of spending your time trying to rip into Veeresh Malik?
We all have the same goal -- working towards a better India. So why not help instead of spreading nastiness?