Mining pulls industrial growth marginally in Feb

Industrial growth in February saw a slight dip. Index of Industrial Production (IIP) for the month came in at 3.6% as against 3.7% in January. A CNBC-TV18 poll had indicated that the figure might grow by 4.85% in February as compared to 3.7% in the previous month.

For the April-February period this fiscal, data indicated a significant fall in IIP to 7.8% as compared to 10% on year-on-year basis. Meanwhile, January IIP has been revised to 3.9% as against the provisional figure of 3.7%. In February, manufacturing growth plummeted to 3.5% from 16.1% a year ago, while the mining space too posted a scanty 0.6% growth for the February 2011 as compared to 11% posted in February 2010. The electricity sector rose 6.7% in the said month vis-