Growth in Manufacturing is Positive; Economy firmly on Growth Path: Finance Minister Arun Jaitley
Aug 13, 2015: Finance Minister Arun Jaitley said, "Growth in the manufacturing sector is a positive development and shows that the economy is firmly on the growth path."
Industrial Production (IIP) data showed factory output to grew at 3.8 per cent in June that is the fastest pace in four months. Jaitley Said, "The growth is boosted by 4.6 per cent increase in manufacturing while mining and electricity sectors continue to need attention ".
Growth is at boost by 4.6 percent increase in manufacturing and mining and electricity sectors continue to need attention as per Jaitley remarks.
Indirect Tax revenue in this year rose to 37 percent to over 2.1 lakh crore in April –July period with higher excise duty collections at the back.
Jaitley added, "Consumer goods have shown encouraging performance with output growth at 6.6 per cent." Consumer durables segment is performing well at 16 per cent while basic goods are performing satisfactorily.
Arun Jaitley also made everyone mark the fact that inflation has been decreased to 3.8 percent, and food inflation being only 2.2 percent.
Retail inflation showed the increase by 3.78 percent in July, and that is the slowest pace with respect to records. This pace has been also slow due to lower food prices of items like – vegetables, fruits, and cereals.