Diabytes
India's industrial growth News
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The higher inflation rate is unlikely to push the Reserve Bank of India (RBI) to change its key rate any time soon.
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The previous high in IIP growth was recorded at 5.7 percent in November 2016.
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Prabhu said the country's economy is doing good and it has a huge growth potential in coming years.
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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.
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The manufacturing sector, which constitutes over 75 percent of the IIP index, contracted by (-) 0.4 percent in June compared to 7.5 percent growth a year ago.
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Analysts expect the apex bank to cut interest rates in view of the latest macro data.
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The outcome of the Monetary Policy Committee meeting headed by RBI Governor Urjit Patel is being keenly awaited by all stakeholders including industry and stock markets.
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With retail inflation receding to record low levels, the six-member monetary policy committee (MPC), headed by RBI Governor Urjit Patel likely to cut the benchmark lending rate by at least 0.25 percent in its third bi-monthly monetary policy review on Wednesday afternoon.
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India's industrial production grew by 3.1 percent in April due to good performance of electricity, mining and manufacturing sectors, as per data released by Central Statistics Office (CSO).
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India's industrial output growth slips to 2.7% in March; retail inflation declines to 2.99% in April
Industrial output growth slipped to 2.7 percent in March, chiefly because of poor performance of the manufacturing sector, showed the IIP data based on the revised base year of 2011-12.
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India's industrial production contracted by 1.2 percent in February due to poor performance of manufacturing sector coupled with decrease in output of capital goods, as per data released by Central Statistics Office (CSO).
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Growth in industrial production rose to 2.7 percent in January due to good performance of mining and manufacturing sectors coupled with sharp increase in output of capital goods.
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Industrial production contracted by (-)1.9 percent in October mainly due to poor show by manufacturing and mining sectors coupled with decline in capital goods output.
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The 30-share barometer fell by 258.84 points or 0.89 percent to 28,786.44 in early trade today.
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Encouraged by good show by manufacturing and capital goods sectors, the India's Industrial Production made a recovery in June.
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The retail inflation based on Consumer Price Index (CPI) rose to 5.77 percent in June as against 5.76 percent in May.
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Dragged by poor manufacturing and mining output, India's industrial production growth slowed to 0.1 percent in March, while retail inflation inched up in April to 5.39 percent, a set of data which may spoil the chances for any immediate rate cut by RBI.
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The General Index for the month of February 2016 stands at 184.6, which is 2 percent higher as compared to the level in the month of February 2015.
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