India's industrial production growth at a 13-month low of 7.1 per cent in June
12 Aug 2010
Industrial production in the country grew at a slower pace of 7.1 per cent in June 2010 against the 11.5 per cent growth recorded in the previous month (May 2010) and 8.3 per cent recorded in June 2009.
The index of industrial production (IIP) in the country stood at 312.4 in June 2010, up 7.1 per cent compared to the level in June 2009, quick estimates of the index of industrial production (base 1993-94) showed.
The deceleration in production growth was mainly on account of a dip in manufacturing sector growth rate.
The Planning Commission, however, does not expect the blip to hit the overall growth rate.
The Reserve Bank of India (RBI) and the Prime Minister's Economic Advisory Council (PMEAC) also expect the Indian economy to grow at 8.5 per cent in the current fiscal, up from 7.4 per cent a year ago.
The indices of production for the mining, manufacturing and electricity sectors stood at 198.6, 336.4, and 242.6, respectively, during the month, recording growth rates of 9.5 per cent, 7.3 per cent and 3.5 per cent year-on-year.
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