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2nd LD Writethru: India's industrial output rises, inflation stands controlled

Xinhua, March 12, 2015 Adjust font size:

India's industrial output rose by 2.5 percent in January up from the previous month's 1.7 percent, while its inflation stood controlled at 5.37 percent in February, said official statistics published Thursday.

Industrial activity measured according to Index of Industrial Production (IIP) rose by 2.6 percent January, also 1.1 percent in the corresponding month in 2014, said data released by the Central Statistics Office.

In November 2014, the IIP increased by 3.8 percent, while in October it decelerated by 4.2 percent. The cumulative growth for April-January 2014-15 stood at 2.5 percent while the figure for the corresponding period of the previous fiscal stood at 0.1 percent.

The pick-up of industrial output could help the government obtain an 8 percent growth target in the coming fiscal year starting in April, as was anticipated in its budget report this month.

Meanwhile, the country's consumer price index-based inflation ( CPI) was 5.37 percent during February, down from 7.88 percent in the corresponding month of 2014.

The CPI was, however, marginally higher when compared to the figure of 5.19 percent for January. It was 4.28 percent in December 2014 because of abrupt drop of international oil prices.

The CPI urban for February stood at 4.95 percent and rural at 5. 79 percent. February food inflation stood at 6.79 percent.

The CPI urban for January stood at 4.96 percent and rural at 5. 34 percent. January food inflation stood at 6.14 percent.

The government has expressed optimism over curtailing inflation to below 6 percent by the end of next fiscal ending next March.

The central bank recently relaxed key renting rates over confidence of inflation and fiscal control by the government. Endi