Dear Members of the Media,
Would be most obliged if you could kindly carry the appended press note in your esteemed newspaper., With warm regards N Venugopal -------------------------------------------------------------------- Cmde. N Venugopal VSM IN (Retd) Advisor - Goa State Office Confederation of Indian Industry 502, Unitech City Center, M. G. Road, Panaji, Goa 403 001 Tel: 0832 - 2422790 / 2422796 / 9822123077 e-mail: ciig...@dataone.in ; -------------------------------------------------------------------- Before printing, think about ENVIRONMENTAL responsibility. Statement on February IIP Data by Mr. Chandrajit Banerjee, Director General, CII The IIP figures for February 2012 are along expected lines, with moderate improvements being seen in basic goods and capital goods with base effect also playing a part. However, the error reported in the January number has sharply pulled down the growth rate for the year till now. Overall, industrial growth remains weak and is not likely to exceed 4.0% in the full year FY2012. In order to realise the Budget projection of 7.6 per cent GDP growth in FY2013, it is necessary to use all policy levers to encourage growth and investment. It is time that the RBI focuses on getting growth back by sharply reducing interest rates. Mumbai 12th April 2012 -- ------------------------------------------------------------------------------------------------------ Disclaimer This message, including any files transmitted with it, is for the sole use of the intended recipient and may contain information that is confidential, legally privileged or exempt from disclosure under applicable law. If you are not the intended recipient, please note that any unauthorized use, review, storage, disclosure or distribution of this message and/or its contents in any form is strictly prohibited. If it appears that you are not the intended recipient or this message has been forwarded to you without appropriate authority, please immediately delete this message permanently from your records and notify the sender. CII makes no warranties as to the accuracy or completeness of the information in this message and accepts no liability for any damages, including without limitation, direct, indirect, incidental, consequential or punitive damages, arising out of or due to use of the information given in this message.
