The Centre for Monitoring Indian Economy (CMIE) today revised its forecast for industrial growth in the current fiscal to 7.65% from the earlierprojection of 7.5% following a recovery in rainfall in July.The manufacturing sector was likely to grow at 8.2% as against the previous estimate of 8% in 2005-06, CMIE said in a statement today.Sugar prices are expected to remain firm due to a near-deficit scenario towards the end of 2006, the release said.Cement consumption rose 11.6% to 330.5 lakh tonne in the April-June quarter. "The demand for cement generally peaks in the quarterending March and tends to drop in the April-June period due to the onset of monsoon across the country. However, during this monsoon, the industry witnessed a sharp rise in demand," the release said.Cement consumption across the country during Q1FY06 was the highest recorded in any quarter so far, it added.
