Jaitley noted that mining (minus 0.3 per cent) and electricity (1.3 per cent) sectors continue to need attention
Finance Minister Arun Jaitley (Photo: PTI)
New Delhi: In what will signal economic revival, industrial production expanded at a four month high rate of 3.8 per cent in June and retail inflation fell to multi-year low of 3.78 per cent in July due to cheap food prices.
The finance minister Arun Jaitley said that growth in manufacturing (4.6 per cent) lead by consumer durables (16 per cent) and basic goods (5.1 per cent) is a positive development for the economy.
“It shows that the economy is firmly on the growth path. These figures are consistent, and need to be read with the growth in indirect tax receipts. It is especially notable that simultaneously inflation has declined to 3.8 per cent with food inflation being only 2.2 per cent,” he said.
Mr Jaitley noted that mining (minus 0.3 per cent) and electricity (1.3 per cent) sectors continue to need attention. Industrial production had grown 4.3 per cent in June last year and had grown by 2.5 per cent in May 2015.
Meanwhile, food inflation in July 2015 fell to 2.15 per cent as against 5.48 per cent recorded in June 2015. Prices of vegetables fell sharply during the month from a year ago, with inflation printing a negative 7.93 per cent.
Fruits also turned cheaper by 1.45 per cent during the month compared to the same month last year. However, prices of protein-rich items such as pulses remained higher as inflation rose to 22.88 per cent.
( Source : deccan chronicle )
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