LIVE TV DownloadNews18 App
News18 English
Powered by cricketnext logo
»
1-min read

Low Manufacturing Output Pulls Down May IIP Growth to 1.7 Percent

According to the data released by the Central Statistics Office, the factory output growth for April-May period decelerated to 2.3 percent from 7.3 percent in the same period last fiscal.

PTI

Updated:July 12, 2017, 7:06 PM IST
facebookTwittergoogleskypewhatsapp
Low Manufacturing Output Pulls Down May IIP Growth to 1.7 Percent
Representative image.
Loading...
New Delhi: Industrial output growth slumped to 1.7 percent in May from 8 percent a year-ago due to poor performance of mining and manufacturing, and may put pressure on the RBI to cut interest rate in its policy next month.

The factory output growth, measured on the Index of Industrial Production (IIP), for April-May period decelerated to 2.3 percent from 7.3 percent in the same period last fiscal, as per the data released by the Central Statistics Office.

The data further revealed that output of the capital goods segment, considered as key indicator of investment, shrunk by 3.9 percent compared to a high growth of 13.9 percent recorded in May 2016.

The consumer durables segment too witnessed a decline. While mining sector output declined by 0.9 percent in May against 5.7 percent growth in the year-ago month, the growth of manufacturing sector slowed to 1.2 percent from 8.6 percent in the same month last year.

However, electricity generation expanded by 8.7 percent in May as against 6.1 percent growth in the corresponding period last year.

The Reserve Bank, which is slated to announce its bi-monthly monetary policy later next month, has kept the interest rate on hold citing risks to inflation.

The government has been pressing on the RBI for a cut in interest rates to increase private investment. Industry too has been persistently demanding rate cut to boost investments.

Catch the Biggest Newsmakers and the Biggest Newsbreaks on CNN-News18, your favourite English TV news channel. Keep watching CNN-News18 at just 50 Paise per Month. Contact your cable /DTH operator Now!
*Rental / capacity fee of Rs.130/- as charged by cable / DTH operator may apply. **GST extra.

Read full article
Loading...
Next Story
Next Story

Also Watch

facebookTwittergoogleskypewhatsapp
Most Active
Company Price Change %Gain
Reliance 1,235.15 -0.21
Sun Pharma 418.95 5.18
Kotak Mahindra 1,291.75 1.91
Asian Paints 1,406.95 -1.07
Yes Bank 192.20 0.13
Company Price Change %Gain
Page Industries 22,510.10 -1.84
Reliance 1,234.75 0.02
Sun Pharma 418.05 4.95
Yes Bank 192.10 0.00
Axis Bank 661.80 0.23
Top Gainers
Company Price Change %Gain
Sun Pharma 418.95 5.18
Wipro 346.50 2.58
Titan Company 982.65 2.07
Kotak Mahindra 1,291.75 1.91
Dr Reddys Labs 2,640.30 1.56
Company Price Change %Gain
Sun Pharma 418.05 4.95
Kotak Mahindra 1,291.60 1.92
Bajaj Finance 2,616.65 1.07
Hero Motocorp 2,823.85 1.05
Axis Bank 661.80 0.23
Top Losers
Company Price Change %Gain
Vedanta 191.50 -3.50
Tata Steel 456.55 -3.21
M&M 708.50 -2.99
Zee Entertain 425.25 -2.61
HCL Tech 940.75 -2.59
Company Price Change %Gain
Vedanta 191.45 -3.50
Tata Steel 456.80 -3.13
M&M 708.05 -3.08
HCL Tech 941.60 -2.18
Bharti Airtel 304.25 -2.00

Live TV

Loading...
Countdown To Elections Results
  • 01 d
  • 12 h
  • 38 m
  • 09 s
To Assembly Elections 2018 Results