Industrial production grows 4.3% in August'17

India's factory output grows sharply at 4.3% in August

However, on a year-on-year (YoY) basis, the country's September retail inflation was lower than the 4.39 per cent CPI rate reported for the corresponding month of last year.

The output growth in manufacturing sector, which constitutes 77.63 per cent of the index, however decelerated to 3.1 per cent in August from 5.5 per cent a year ago.

Ms. Nayar said appreciable strengthening of the industrial growth in August 2017 from the mild 0.94% in July 2017 was on expected lines, as restocking of manufactured items gained steam following the introduction of the GST and prior to the festive season.

Meanwhile, the index of industrial production (IIP) increased to 4.3 per cent in August against July's figure of 1.2 per cent. Retail inflation stood at 4.31 per cent in September, 2016.

Food and beverages during the month under consideration recorded a rise of 1.76 per cent over the same month previous year. The rate continues to be below 4 per cent, the mid-term target set by the Reserve Bank of India (RBI).

IIP growth slowed down to 2.2% during April-August this fiscal from 5.9% in the corresponding period last fiscal.

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.

The output of the mining and electricity sectors grew at 9.4 per cent and 8.3 per cent as compared to August 2016.

The August intermediate goods output is at -0.2 per cent, against -1.8 per cent in July.

India's annual retail inflation remained static in September with a marginal drop in the food prices, official data showed on Thursday.

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