New Delhi, Oct 29
The next three months should be more buoyant for industry as the GST cuts would translate to higher demand which in turn should lead to increased activity, a new Bank of Baroda (BoB) report said on Wednesday.
The announcement of GST reforms clubbed with festive season is expected to boost consumption demand in the near term. This is likely to offset the ongoing uncertainty pertaining to the trade negotiations, the report mentioned.
IIP growth edged up to 4 per cent in September, compared with 3.2 per cent growth in September last year.
Manufacturing and electricity production improved significantly. Mining output was lower for the same period, partly can be attributed to rainfall. Within manufacturing, sectors such as computer, basic metals and electronic gathered pace and registered much higher growth.