Industrial production up 12% in Q1

Industrial production during the first quarter this fiscal is estimated to have gone up by 12% as compared to 10.9% in the last fiscal.

"Industrial production of 209 item groups grew by 12.8% in June. The growth rates in May and April were 12.7% and 10.4%, respectively," an official statement, quoting commerce and industry minister Kamal Nath, said.

The government has initiated several steps to hasten the pace of industrial growth including rationalistion of customs and excise rates. Special incentives have also been given to promote industrialisation in north-eastern region and special category states, the statement said.

The overall annual industrial growth rate in 2004-05 was 8.3% as against 7% in 2003-04, the release said, quoting figures from the Central Statistical Organisation (CSO).