New Delhi, Sep 11 (PTI) Factory productions expanded at a greater pace for the second month in a row growing by 6.8 per cent in July against 6.4 per cent a year ago, signalling an industrial recovery.
And the trend, if sustained, could well offset the likely decline in farm output because of an erratic monsoon and help overall growth in the economy this fiscal.
Industrial growth for the first four months stood at 4.6 per cent against 5.6 per cent a year ago, after expansion in factory production is revised to 8.2 per cent in June against 7.8 per cent estimated provisionally.
It was for the first time in June that the industry grew at such a high rate, after hit hard by the global financial crisis in the middle of September last year.
While mining grew by a whopping 9.
And the trend, if sustained, could well offset the likely decline in farm output because of an erratic monsoon and help overall growth in the economy this fiscal.
Industrial growth for the first four months stood at 4.6 per cent against 5.6 per cent a year ago, after expansion in factory production is revised to 8.2 per cent in June against 7.8 per cent estimated provisionally.
It was for the first time in June that the industry grew at such a high rate, after hit hard by the global financial crisis in the middle of September last year.
While mining grew by a whopping 9.
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