Pranab hints at policy adjustments to revive capital goods output

K.R. Srivats Updated - November 15, 2017 at 07:40 PM.

The Finance Minister, Mr Pranab Mukherjee, has stressed on the need to build on the IIP recovery in November 2011 with a stronger performance on the capital goods sector.

A stronger capital goods performance is a must for the overall growth momentum to recover in the remaining months of the current fiscal, Mr Mukherjee said in a statement here on Thursday.

He also said that policy focus will have to be adjusted to encourage capital goods sector.

Index of Industrial Production (IIP) grew 5.9 per cent in November 2011, reversing the sharp decline seen in the previous month, latest official data showed.

Mr Mukherjee noted that capital goods output growth continued to be weak, with the sector recording a negative growth of 4.6 per cent in November 2011.

There has been a strong revival of growth in consumer goods at over 13 per cent with consumer non-durables goods growing faster than the consumer durables.

Published on January 12, 2012 08:48