Government data released on Friday showed industrial output rose 0.4%, unchanged from the previous month’s level.
Government data released on Friday showed industrial output rose 0.4%, unchanged from the previous month's level, largely dragged down by the manufacturing sector that fell an annual 1.4% in August compared to a decline of 0.2% in the year earlier period. The electricity sector rose 12.9% year-on-year compared to a growth of 7.2% in August 2013.
Some economists attributed the sluggish number to fluctuation in some sectors such as radio, TV and communications, which fell 49% year-on-year.
They said they were hopeful of a better showing in the months ahead as investments start flowing in and projects get off the ground. But the data triggered calls for urgent steps to revive the sector, crucial for boosting overall economic growth and creating jobs.
"A broad-based investment revival is unlikely to set in until prevailing structural concerns are resolved, including issues related to the ease and cost of land acquisition," said Aditi Nayar, economist at rating agency
"There is need for taking cognizance of the slow growth of industrial production and take steps to revive investment and stimulate demand in the economy," said Chandrajit Banerjee, director-general at
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