IIP data disappointing, may affect growth: Pranab

The slower growth in industrial production in August is disappointing and it may affect economic growth, Finance Minister Pranab Mukherjee said today. India's industrial output growth declined to 5.6 percent in August.

The slower growth in industrial production in August is disappointing and it may affect economic growth, Finance Minister Pranab Mukherjee said on Tuesday.

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“I am disappointed over the IIP data. It is not up to our expectations,” Mukherjee told reporters here.

India's industrial output growth declined to 5.6 percent in August from 15.2 percent recorded in the previous month.

Mukherjee said slower growth in industrial output was likely to affect the economic growth.

The finance minister had recently said that growth would surpass the budgetary target of 8.5 percent. India's GDP grew 8.8 percent in the first quarter of fiscal 2011-12.