Arab Today, arab today india\s industrial output slows to 63 in apri
Last Updated : GMT 05:22:36
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.

arabstoday
arabstoday

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

 



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 Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today EasyJet, Lufthansa among seven to bid

GMT 06:49 2017 Tuesday ,17 October

EasyJet, Lufthansa among seven to bid
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today 3,250 people killed in Raqqa battle

GMT 03:49 2017 Wednesday ,18 October

3,250 people killed in Raqqa battle
Arab Today, arab today Iran's Facebook shuts down

GMT 23:50 2017 Monday ,16 October

Iran's Facebook shuts down
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Sidem reveals plan to improve education

GMT 15:52 2017 Friday ,06 October

Sidem reveals plan to improve education
Arab Today, arab today British actress becomes fifth woman

GMT 18:15 2017 Monday ,16 October

British actress becomes fifth woman
Arab Today, arab today Three killed, 360,000 without power

GMT 05:11 2017 Tuesday ,17 October

Three killed, 360,000 without power
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Mercedes says recalls 400,000 UK cars

GMT 06:56 2017 Tuesday ,17 October

Mercedes says recalls 400,000 UK cars
Arab Today, arab today Britain's Vauxhall to cut 400 jobs

GMT 10:53 2017 Sunday ,15 October

Britain's Vauxhall to cut 400 jobs
Arab Today, arab today Anoshka happy for reactions to her talk show

GMT 12:33 2017 Friday ,13 October

Anoshka happy for reactions to her talk show
Arab Today, arab today India to close colonial-era military farms

GMT 18:49 2017 Monday ,16 October

India to close colonial-era military farms

GMT 10:55 2017 Thursday ,12 October

Safaa Sultan happy for “Love School”

GMT 10:37 2017 Thursday ,12 October

Cara Delevingne accuses Weinstein

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 12:02 2017 Saturday ,14 October

Conservation cutbacks put Brazil's

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 12:25 2017 Saturday ,14 October

Squeeze on UK health gives advanced

GMT 07:02 2017 Sunday ,15 October

German minister sparks uproar

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 03:59 2017 Sunday ,15 October

US mobile carriers Sprint, T-Mobile to merge

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
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