IIP to remain around 6% for FY ‘08: D&B

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New Delhi:: Describing the 1.3% industrial growth in August as “aberration”, the global business consultant Dun & Bradstreet (D&B) expects 5-6% increase in Index of Industrial Production (IIP) during September. “IIP growth of mere 1.3% during August is worrisome and surprising, however, it could be an aberration. We expect growth in IIP to remain around 6 % during 2008-09”, said D&B chief operating officer Kaushal Sampat.

According to the forecast, the industrial production in September is likely to grow by 5 to 6 %. “Although cut in CRR is likely to ease liquidity conditions in the banking system, it might put upward pressure on the money supply thereby increasing inflationary expectations...interest rates will remain unchanged ,” D&B said.