Search the Internet          Tips  Sites: Finance, Investment

Manufacturing lifts industrial growth; IIP up at 5.7% in Aug

Led by the manufacturing sector's strong performance, India's industrial sector posted a growth of 5.7 per cent during August this year compared to 3 per cent in the same month last year.

As a result the industrial growth during April-August was 4.9 per cent as compared to 2.4 per cent in the first five months of last fiscal.

According to quick estimates of Index of Industrial Production released by the Central Statistical Organisation, manufacturing sector grew at 5.9 per cent in August this year as against 3.3 per cent last year.

The five-month growth in the manufacturing sector stood at 4.7 per cent compared to 2.8 per cent in the corresponding period of last financial year.

High industrial growth led by manufacturing sector also indicates that the failure of monsoon in many parts of the country has not affected the industrial activity and trend in industrial growth is also mirroring the overall economic growth of six per cent in the first quarter of 2002-03.

Other sectors, mining and electronics registered higher growth rates of 6.2 and 3.7 per cent during August over 0.6 and 2.7 per cent, respectively, in the same month last year, IIP said.

ALSO READ:
More Money Headlines