Mumbai: The factory output growth in August surged to 9-month high of 4.2%, indicating an acceleration of industrial activities after the initial setback due to GST-related destocking much to the delight of the government which is facing criticism over poor handling of the economy.
The YoY CPI dropped to 3.44 per cent in urban areas and 3.15 per cent in rural areas in September as compared to 3.64 per cent and 5.04 per cent respectively in the corresponding period previous year.
Separately, annual industrial output grew at a nine-month high of 4.3 per cent in August, compared with the forecast of 2.4 per cent by economists in a Reuters poll, the data showed.
The August mining sector output is at 9.4 per cent against 4.8 per cent in July, while the manufacturing sector output is at 3.1 per cent, against 0.1 per cent in July.
The Index of Industrial Production (IIP) had registered a tepid growth of 1.2 per cent in July this year.
Ministry of Statistics and Programme Implementation has revised the Base Year of the Consumer Price Index (CPI) from 2010=100 to 2012=100 with effect from the release of indices for the month of January 2015.
In terms of industries, 10 out of 23 industry groups in the manufacturing sector showed positive growth during August 2017.
IIP growth during April-August period of this fiscal stood at 2.2 per cent, down from 5.9 per cent in the same period in 2016-17.
Both the Asian Development Bank as well as the Organisation for Economic Cooperation and Development (OECD) have also cut their growth projections for India to 7% and 6.7%, respectively, for fiscal 2017-18.