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Industrial growth at 8.6 p.c. in February

NEW DELHI: Industrial production grew at 8.6 per cent in February, compared to 11 per cent a year-ago, but belied apprehensions of a major slowdown after dismal figures for the previous month, giving the Reserve Bank of India some headroom to tighten money supply for combating the surging inflation.

Industrial growth, as measured by the Index of Industrial Production (IIP), was much higher than 5.3 per cent in January and even reversed the negative output growth witnessed in consumer durables goods. For the first 11 months of last fiscal, industrial growth stood at 8.7 per cent against 11.2 per cent a year ago, according to figures released by the Government. — PTI

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