Finance Minister P Chidambaram today described the industrial growth of 4.8 per cent in September as encouraging, although he felt data collection methods needed an overhaul.
"After the poor results reported for the month of August 2008, the quick estimates of IIP for September 2008 are more encouraging."
"I say even while I maintain that data collection must be improved and made more relevant or more contemporary and universal," he said in a statement here.
According to data released by the government today, the industrial output for August was revised upwards to 1.42 per cent against the provisional estimate of 1.3 per cent, which many experts had described as aberration.
He said in September 2008, the mining sector has grown by 5.7 per cent against 4.9 per cent in September 2007. In September 2008, the electricity generation was 4.4 per cent as against 4.5 per cent during the same period last year.
He also drew attention to the fact that in September this year, the growth in capital goods sector has been an impressive 18.8 per cent against 20.9 per cent during the same period last year.
He added that the growth in consumer goods has been a satisfactory 5.6 per cent in September this year as against -0.2 per cent a year ago.