Arab Today, arab today india\s industrial output slows to 63 in apri
Last Updated : GMT 22:24:26
Arab Today, arab today
Arab Today, arab today

India\'s industrial output slows to 6.3% in Apri

Arab Today, arab today

Arab Today, arab today India\'s industrial output slows to 6.3% in Apri

Mumbai - AFP

India\'s industrial output growth in April halved compared with the same period last year, a newly-structured index showed Friday, easing pressure on the central bank ahead of an interest rate decision. Finance Minister Pranab Mukherjee said the data was \"disturbing\" but said trends will become apparent only when the new index is analysed over a longer period. Overall production rose 6.3 percent in April after growth of 13.1 percent in the same month last year, the government\'s Central Statistical Office said on its website. The figures are based on a revised index including newer components and weightages to reflect more recent production behaviour. The new base year for industrial output is 2004-05. The old model was based on 1993-94 data. Output in manufacturing, which accounts for 80 percent of the index, rose 6.9 percent in April, down from 14.4 percent growth a year earlier, according to the new index. Shares on the Mumbai stock exchange fell 0.5 percent or 90.3 points to 18,294.5 in reaction to the figures. Most economists expect the Reserve Bank of India (RBI) to raise interest rates by 25 basis points next Thursday but the slowdown in output indicates that monetary policy makers may be less aggressive. \"The RBI will be calibrated in its approach, and less aggressive,\" said Rupa Rege Nitsure, chief economist with state-run Bank of Baroda. Industrial activity in India has slowed even as the central bank is on an aggressive monetary tightening policy, hiking interest rates nine times in 15 months to tame inflation, which is the highest in all major Asian economies. The RBI hiked rates 50 basis points last month, saying short-term economic growth may have to be sacrificed in the fight against inflation, which at 8.66 percent is far above the bank\'s target level of 5 to 6 percent. \"The above growth trend confirms to our view that we have seen the bottom of industrial activity. Private consumption also appears to have moderated,\" said Jay Shankar, chief economist with Religare Capital Markets. Shankar was confident inflation would be controlled soon, which could also indicate peaking of the interest rates cycle. Based on the older model, which is still used by analysts, overall industrial output rose 4.4 percent in April, well below expectations of around five percent. Output for March rose 7.3 percent. \"The new index can be considered a much closer reflection of the present industrial scenario, being formed out of different items as per the recent production behaviour in India,\" the CSO said. The new April data showed that production of capital goods -- like factory goods, machinery and equipment -- grew by less than half to 14.5 percent year-on-year. Growth in the production of consumer durables plunged sharply to 3.8 percent in the new index, from 23.3 percent a year earlier. India grew by 8.5 percent in the full fiscal year to March 2011, an increase from the 7.4 percent of 2009-10. Mukherjee sees inflation easing to near 6.0 percent this fiscal year.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today india\s industrial output slows to 63 in apri Arab Today, arab today india\s industrial output slows to 63 in apri

 



Arab Today, arab today
Arab Today, arab today Saudis await visitors but will they come?

GMT 11:54 2017 Thursday ,23 February

Saudis await visitors but will they come?
Arab Today, arab today Sarah Belamesh designs antiques of "ceramic"

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"
Arab Today, arab today Blind sheikh buried in Egypt

GMT 06:32 2017 Thursday ,23 February

Blind sheikh buried in Egypt
Arab Today, arab today Media host Mona Iraqi stresses her show's success

GMT 15:32 2017 Wednesday ,22 February

Media host Mona Iraqi stresses her show's success

GMT 16:32 2017 Wednesday ,22 February

US Treasury chief tells IMF to monitor currencies

GMT 16:08 2017 Wednesday ,22 February

Qatari banks merger to rebalance financial sector

GMT 05:57 2017 Wednesday ,22 February

Britain risks clash with EU over RBS bailout

GMT 05:26 2017 Wednesday ,22 February

Singapore carbon tax would hit refiners, help renewables

GMT 05:18 2017 Wednesday ,22 February

Chinese PM: US should avoid ‘trade war,’

GMT 20:59 2017 Tuesday ,21 February

Economy good, but homes in German cities overpriced

GMT 05:29 2017 Tuesday ,21 February

Sovereign funds pulled $38bn from markets in 2016
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today To hold social dialogue over secondary school

GMT 07:43 2017 Wednesday ,22 February

To hold social dialogue over secondary school
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Salma Rashid happy for 'A Whisper of Love'

GMT 05:19 2017 Tuesday ,21 February

Salma Rashid happy for 'A Whisper of Love'
Arab Today, arab today Milan laughs while Rome cries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 06:41 2017 Monday ,20 February

Janat pleased for issuing 'Good Morning'

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 14:29 2017 Monday ,20 February

Prepares to present her new collection

GMT 15:53 2017 Tuesday ,21 February

Small ponds have outsized impact

GMT 23:29 2017 Thursday ,16 February

Home built on sand castles-style costs $8m

GMT 07:51 2017 Wednesday ,22 February

Mom's immune system accepts babies

GMT 17:46 2017 Saturday ,18 February

Tourist guide reveals methods of tourist attractions

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 19:10 2017 Friday ,17 February

Hats, scarves add beauty to women
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday