Wednesday, November 12, 2008

IIP Estimates for September more encouraging: FM

Following is the text of the statement of Finance Minister, Shri P. Chidambaram on IIP estimates: “After the poor results reported for the month of August 2008, the Quick Estimates of Index of Industrial Production for the month of September 2008 are more encouraging. I say this even while I maintain that data collection must be improved and made more relevant, contemporary and universal.

In particular, I would draw attention to the following:

(i) that, in September 2008, mining has grown by 5.7 per cent as against 4.9 per cent in September 2007.

(ii) that, in September 2008, electricity generation has increased by 4.4 per cent as against 4.5 per cent in September 2007.

(iii) that, in September 2008, the growth in the capital goods sector has been an impressive 18.8 per cent as against 20.9 per cent in September 2007.

(iv) that, in September 2008, the growth in consumer goods has been a satisfactory 5.6 per cent as against (-)0.2 per cent in September 2007.”

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