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CII on manufacturing growth rate

Our Bureau

New Delhi, May 31

Even as the Confederation of Indian Industry welcomed the revised estimates of the Central Statistical Organisation for the GDP growth last fiscal at 8.4 per cent, it said the manufacturing growth of 9.0 per cent for the fiscal was a cause for concern. The advanced estimates for manufacturing sector was at 9.4 per cent. The concern was further exacerbated when seen in the context of general slackness in industrial growth, according to the chamber. Owing to the revival of the farm sector, agricultural growth for the last quarter of 2005-2006 being 5.5 per cent, rural demand would get a boost. This should propel the industry and services sector in the current year, according to the chamber.

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