Industrial production rises to 8.4 % in November, hits 17-months high

NewsBharati    13-Jan-2018
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New Delhi, January 13: Growth in the country's industrial output rose to seventeen months high of 8.4 percent in November this year, mainly lifted by the manufacturing and capital goods sectors.

The factory output, measured in terms of Index of Industrial Production (IIP) grew 5.1 percent in November 2016.

According to data released by Ministry of Statistics and Programme Implementation, Manufacturing sector, which constitutes 77.63 percent of the IIP, recorded an impressive growth of 10.2 percent in November as compared to 4 percent a year ago.

Meanwhile, retail inflation crossed the RBI's comfort level and rose to 5.21 percent in December on rise in prices of food items, egg and vegetables, dashing hopes of interest rate cut in the near future.

The retail inflation, based on Consumer Price Index (CPI), was 4.88 percent in November. In December 2015, it was 3.41 percent.

The Reserve Bank has been asked by the government to keep inflation at 4 percent, plus or minus 2 percent, and its rise beyond the comfort zone will put pressure on the central bank not to cut rate.

Industrial production Industrial Growth manufacturing sectors capital goods sectors GDP Economy