New Delhi : Industrial production growth slipped to 3.1 per cent in April due to poor show by manufacturing, mining and power sectors coupled with lower offtake of capital goods and consumer on Monday showed.

 The CSO also revised upwards the IIP growth figure for March to 3.75 per cent from provisional estimate of 2.7 per cent released last month.

According to the CSO data, manufacturing sector, which constitutes 77.63 per cent of the index, grew at 2.6 per cent in April compared to 5.5 per cent in same month last year. Similarly, mining sector output grew at 4.2 per cent in the month under review compared to 6.7 year ago. Power generation rose by 5.4 per cent in April, down from 14.4 per cent expansion in April last year.

The output of capital goods, which are the barometer of investment in the country, contracted by 1.3 per cent in April compared to growth of 8.1 per cent a year ago. Similarly, consumer durables or white goods production declined by 6 per cent in April against 13.8 per cent growth a year ago. As per use-based classification, the growth rates in April 2017 over April 2016 are 3.4 per cent in primary goods, 4.6 per cent in intermediate goods and 5.8 per cent in infrastructure/ construction goods. The consumer non-durables have recorded a growth rate of 8.3 per cent. Consumer goods overall grew at 5.8 per cent.  In terms of industries, 14 out of 23 industry groups in the manufacturing sector have shown positive growth in April 2017 compared to the corresponding month of the previous year.

Veggies, pulses drag inflation to record low of 2.18% in May

New Delhi : Retail inflation fell to a record low of 2.18 per cent in May as prices of kitchen staples like vegetables and pulses declined sharply although there was a marginal spike in fruit rates. Clothing, housing, fuel and light also saw lower inflation. Retail inflation dropped to an all time low of 2.18 per cent in May. The CPI based retail inflation stood was at 2.99 per cent in April 2017. In May 2016, it was at 5.76 per cent. The overall food inflation was in negative territory at (-) 1.05 per cent during the month. Prices of vegetables declined by 13.44 per cent and that of pulses and products by 19.45 per cent.

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Free Press Journal