Wikinvest Wire

Indian Economy Update

Indian Economy Update:
February IIP fell by 1.2% YoY.
The index of industrial production (IIP) for February 2009 declined 1.2%, as compared to 9.5% growth in February 2008 on back of 1.4% and 1.6% de-growth in manufacturing and mining segments, respectively. During the same month, electricity grew by only 0.7%.
The capital goods and consumer durables witnessed growth of 10.4% and 5.7%, espectively during February 2009. However, intermediate goods, basic goods and consumer non-durables declined by 5.4%, 0.4% and 5.5%, respectively.
The cumulative growth for April-February 2008-09 stands at 2.8% over the corresponding period of the previous year. At the same time, IIP growth for January 2009 has been revised upward to 0.4% from the previously reported negative growth of 0.5%.
The recent fall in inflation would provide greater leeway to Reserve Bank of India for taking softer monetary stance, going forward.
Indian Economy Update Indian Economy Update Reviewed by admin on 6:49:00 PM Rating: 5
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