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Economy Watch

By Anand Adhikari     July 17, 2007

The upswing of the IIP is a good sign for the economy. 

IIP

Status: 255.90 in April 2007, a rise of 14 per cent compared to the April 2006 figure of 225.3.

Impact: Riding piggyback on the manufacturing sector, the index of industrial production (IIP) has been on an upswing. This augurs well for the economy as industrial activity not only generates employment, but also increases the country's gross domestic product.

India's oil reserves

Status: 5.8 billion barrels.

Impact: Not only are the country's oil reserves totally inadequate, they are also expected to last for only another 18-20 years. If the current rate of super growth continues, India will have to urgently look for alternative energy sources like natural gas in a big way.


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