The IIP (Index of
Industrial Production) data shows that Industrial output in January has grew at
its fastest pace in 7 months, powered by a surge in manufacturing sector including
consumer non-durables.
However, the mining
production shrank by 2.7 per cent from a year earlier, its 6th straight
contraction, reflecting the regulatory and environmental approval issues
plaguing the sector.
Describing 6.8 per cent industrial growth in January as an
indication of strong recovery, the Finance Minister, Mr Pranab Mukherjee, today
said efforts will have to be made for promoting mining, capital goods and
consumer durables sectors.
“The sectoral analysis of the data, shows there is not much
progress in capital goods, which is a matter of concern. Consumer non-durables
had contributed substantially in this growth, but not so much in consumer
durables. In course of time, efforts will have to be made to build up these
areas”, he added.
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