India's industrial output sees double-digit growth | The Daily Star
12:00 AM, April 13, 2010 / LAST MODIFIED: 12:00 AM, April 13, 2010

India's industrial output sees double-digit growth

India said Monday that industrial output saw double-digit growth for a sixth straight month in February, adding pressure on the central bank to further hike interest rates to control inflation.
Production by factories, mines and utilities grew 15.1 percent year on year, according to the government data.
The rise was below the 16.7 percent logged in January and slightly weaker than analysts' estimates of 16 percent, but analysts said it was still a robust performance.
The central bank's focus has switched from nurturing a recovery in Asia's third-largest economy to worrying about prices, with inflation expected to breach 10 percent in official figures due later this week.
The central bank is widely expected to boost interest rates when policymakers meet next week with inflation, which is being driven by spiralling food prices, spilling over into the wider economy.
Analysts say India's recovery appears to be on a firm enough track for the central bank and government to unwind stimulus measures put in place to help weather the global downturn.

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