Friday, December 10, 2010

India's Planning Commission

Industrial output growth for the current fiscal that ends in March 2011 could be close to 10%, Montek Singh Ahluwalia, Deputy Chairman of India's Planning Commission, said on Friday.

He also said that headline inflation remains a matter of concern.

FY11 industrial output seen close to 10%: Ahluwalia

India's industrial output in October rose a faster-than-expected 10.8% from a year earlier, higher than the previous month's annual growth of 4.4%, government data showed on Friday.

The median forecast in a Reuters poll was for an annual rise of 8.5%.

Ahluwalia also reacted on inflation saying that India cannot relax its vigil on inflation and it still remains a matter of concern.

The wholesale price index, the most widely watched gauge of prices in India, rose 8.58% in October from a year earlier compared with 8.62% in September.

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