Business » Economy

Updated: August 12, 2010 16:52 IST

Industrial output below expectations: Pranab

print   ·   T  T  
Union Finance Minister Pranab Mukherjee.
Union Finance Minister Pranab Mukherjee.

Finance Minister Pranab Mukherjee on Thursday said industrial growth of 7.1 per cent in June, lowest in the last 13 months, was below his expectations.

“I expected it to be a little better,” Mr. Mukherjee told reporters on June’s Index of Industrial Production (IIP), which fell to single digit for the first time in nine months.

Industrial growth slipped to over a year low in June due to slowdown in manufacturing output, as well as on account of a high base last year. Mining and electricity generation, too, posted lower numbers. Growth in manufacturing, which constitutes around 80 per cent weight in IIP, fell to 7.3 per cent in June as against 8 per cent a year back. Mining output expanded by 9.5 per cent as against 14.2 per cent, and electricity generation grew by merely 3.5 per cent, against 8 per cent.

Experts attributed the sluggish pace of growth to high base effect. The expansion in factory output was 8.3 per cent a year ago and it made even a large hike now seem modest.

Commodity prices

Take a look at the prices of various commodities in Chennai here»

The World Economic Forum's Annual meet



Recent Article in Economy

Finance Minister Arun Jaitley, along with CII President Ajay S. Shriram, Cabinet Secretary Ajit Seth, Minister of State for Ministry of Commerce & Industry Nirmala Sitharaman and Mos Finance Narendra Singh Tomar, Minister for Steel and Mines and FICCI President Jyotsna Suri, during the Make in India workshop at Vighan Bhavan, in New Delhi. Photo: Kamal Narang

FDI in India jumps 25% in Apr-Oct FY’14: Nirmala

Inflows of foreign direct investment into India rose by about 25 per cent to USD 17.35 billion in the April-October period of the curren... »