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January witnesses 0.1 per cent rise in industrial output
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 bottoming out.”

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 few months.”

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 2013 January.

But, manufacturing 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.



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