Government data released on Wednesday showed that country's industrial output was higher by 0.1 percent during January. Mining and electricity sectors' marginally better performances have fuelled the growth.
The data released by the
Central Statistics Office (CSO) in New Delhi, the cumulative growth
of the industrial production for the April-January period
year-on-year was at a standstill from a growth of one per cent in the
corresponding period of the last fiscal.
While commenting on the
IIP data for January 2014, industry body CII's Director General
Chandrajit Banerjee, said “January IIP data has entered the
positive terrain after three consecutive months of negative growth
based on the improved performance of the electricity sector. However,
this is small consolation considering that the manufacturing sector
continues to be in the red for the fourth consecutive month,
indicating that the slowdown is yet to show any visible sign of
In December, factory
output, measured in terms of the Index of Industrial Production (IIP)
had dropped by 0.6 percent which registered a contraction for the
third straight month.
Last month witnessed a
gain in factory output by 0.1 percent from 2.5 percent in the
corresponding period of last year.
Industry body FICCI's
president Siddhartha Birla in a statement said, "We however hope
that the clearance of nearly 130 large projects, many of which are in
sectors like metals and minerals, by PMG may yield results in next
Mining sector output in
January increased by 0.7 percent. In the corresponding period of last
year, it was at a deceleration of 1.8 percent. Like this, electricity
sector output rose by 6.5 per cent in January from 6.4 per cent of
sector's performance declined by 0.7 per cent in the month under
review from an increase of 2.7 per cent in January 2013.