By IANS,
New Delhi: India’s industrial recovery is well on track and the manufacturing output would expand by 7.5-8 percent this fiscal, a key economic adviser of the government said here Monday.
“I think that the industrial production number clearly indicates that industrial recovery is well on the way,” Prime Minister’s Economic Advisory Committee Chairman C. Rangarajan told reporters on the sidelines of a conference.
“I would expect the industrial output to grow 7.5-8 percent and the GDP (gross domestic product) to expand by 6-6.5 percent during the current financial year,” he said.
The index for industrial production (IIP) grew 10.4 percent during August this year – highest in the last 22 months – over the corresponding month last year.