Monthly fluctuations in industrial growth do not reflect correct picture, says MukherjeeBy ANI
Friday, February 11, 2011
NEW DELHI - Expressing disappointment at the low 1.6 per cent industrial output growth during December, Union Finance Minister Pranab Mukherjee on Friday said the monthly fluctuations do not reflect correct picture of the economy.
“It is unfortunate and it is disappointing but it was expected because it is on the year-on-year basis. Last year, during this month, suddenly there was an upper movement. Keeping that in view, it has come down,” Mukherjee told reporters here.
“But, as I mentioned yesterday, monthly and weekly fluctuations do not reflect the correct picture. Therefore, we shall have to take the whole year into account and let us see how does it reflect in the annual budget,” he added.
Industrial production, measured by the index of industrial production (IIP), slowed to 1.6 percent in December, from a low growth of 2.7 percent in November 2010. (ANI)