There is good news for the Indian economy facing economic slowdown. The latest figures show that industrial production has increased by 1.8 per cent in the month of November. A year earlier, there was a 0.2 percent increase in November 2018. At the same time, industrial production was recorded for three consecutive months – August, September and October.
Industrial production declined by 3.8 percent in October. Similarly, there was a decline of 4.3 percent in September and 1.4 percent in August. It may be noted here that during the period from April to November during the current financial year, there has been an overall increase of 0.6 percent in the index of industrial production, whereas in 2018-19, a growth of five percent was recorded during this period.
Statistics show that the manufacturing sector grew at 2.7% compared to -2.1% in October. At the same time, the mining output negative in November has increased from 8 percent to 1.7 percent. Talking about goods output, it is -0.3 per cent. Earlier it was 6 percent. That is, there has been a fall in a month. Growth in capital goods output is 8.6 percent. Talking about intermediate Goods output, there has been a growth of 17.1 percent.
Government Estimates 5 Percent Growth
Recently, the Central Statistics Office (CSO) released estimates for GDP growth in the current financial year. According to this, GDP growth can be 5 percent in the current financial year 2019-20. If this happens, it will be the lowest after 2008-09. Prior to CSO, RBI also reduced annual GDP growth estimate from 6.1 per cent to 5 per cent.
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