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This is an archive article published on July 17, 2009

IIP to fall to 4.8 pct this fiscal: CMIE

IIP would fall from 5.1 pct to 4.8 per cent this fiscal due to a dip in agricultural production.

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Industrial production would fall from 5.1 per cent to 4.8 per cent this fiscal due to a dip in agricultural production,according to economic think-tank CMIE.

8220;We have revised our forecast for growth in industrial production in 2009-10 from 5.1 per cent earlier to 4.8 per cent in light of the failure of the monsoon,8221; Centre for Monitoring Indian Economy CMIE said in its monthly report.

The fall in agriculture production has a direct bearing on the growth in GDP in 2009-10. Its indirect impact on the growth is also significant.

CMIE further said that it has dropped its forecast for sugar production during 2009-10 due to an expected fall of eight per cent in sugarcane.

Similarly,the institute lowered its edible oil production forecast.

8220;While the industrial sector will face agro raw material supply problems in 2009-10,it will see a substantial increase in capacities,8221; CMIE said.

 

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