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Industry grew by 8 percent in FY05
By agencies
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Thursday, 12 May 2005, 19:30 IST
NEW DELHI: Powered by manufacturing boom, industry recorded an impressive 8 percent growth last fiscal compared to 7 percent in 2003-04, raising hopes of a higher GDP growth during the year.
The industrial growth could have been higher but for the lower 7.2 percent growth witnessed in the last month of 2004-05 compared to 8.1 percent in March 2004.
Manufacturing sector logged an impressive 8.8 percent growth and propelled industrial growth in 2004-05. The sector had expanded by 7.4 percent in 2003-04, according to figures released by government today.
Although electricity showed a marginal improvement to 5.2 percent last fiscal from 5.1 percent in 2003-04, mining sector witnessed a slowdown in growth to 4.3 percent from 5.2 percent a year ago.
The Index for Industrial Production (IIP) stood at 204.2 points during the fiscal end compared to 189 a year ago.