FM concerned at slackening industrial growth numbers

Finance Minister Pranab Mukherjee on Friday expressed concern at massive decline in industrial growth, which almost halved to 4.4 per cent in September against 8.2 per cent a year ago.

Finance Minister Pranab Mukherjee on Friday expressed concern at massive decline in industrial growth, which almost halved to 4.4 per cent in September against 8.2 per cent a year ago.

HT Image

"We will have to analyse why that is happening. And after that considered comments can be made. But it's a matter of concern," Mukherjee told reporters.

In the month of September, there was all-round decline in growth numbers across segments.

While manufacturing, that comprises of almost 80 per cent of the IIP, grew at slower rate of 4.5 per cent in September against 8.3 per cent a year ago, electricity generation expanded by just 1.7 per cent against 7.5 per cent.

Mining output rose by 5.2 per cent against 7.4 per cent in the year-ago period.

Also, capital goods production contracted by 4.2 per cent in September, which may have a bearing on industrial growth figures for times to come.