|The car industry of India grew by 13% |
Capitalism creating jobs and wealth. Who would have thought it possible?
A big 7% increase in India's economy - Comrade Obama clueless on why capitalism creates jobs
- Indian economic growth to jump to 8 or 9%.
- A huge 13% increase in Indian car sales.
- Indian manufacturing jumps 8.5%.
Indian industrial output in January grew at its fastest pace in 7 months while car sales hit a record high in February, signs of a rebound for India's flagging economy, although both figures were boosted by one-off factors.
Output at factories, mines and utilities grew 6.8 percent from a year earlier, notoriously volatile data showed, the highest since June 2011, reinforcing expectations the central bank will wait until April before cutting interest rates reports Reuters.
Separately, the government said it was confident of returning to 8-9 percent annual GDP growth soon. The economy is set to grow at around 7 percent in the fiscal year that ends this month, its slowest in three years.
SPLURGE ON CARS, ALCOHOL
Manufacturing output, which makes up three-quarters of industrial output, grew an annual 8.5 percent in January, fuelled by a 42.1 percent surge in production of consumer non-durable goods, including beverages and food products.
Car sales in February rose 13 percent annually, the biggest rise in 10 months, as buyers rushed to showrooms ahead of a federal budget expected to lift the cost of car ownership.
Indian automakers sold 211,402 cars in February, data released by the Society of Indian Automobile Manufacturers (SIAM) showed, the biggest ever monthly total.
"We can't drive our SUVs and eat as much as we want and keep our homes on 72 degrees at all times ... and then just expect that other countries are going to say OK." - Comrade Barack Obama
"I chose my friends carefully. The more politically active black students. The foreign students. The Chicanos. The Marxist professors and structural feminists and punk-rock performance poets." - Comrade Barack Obama
"It’s because you have an obligation to yourself. Because our individual salvation depends on collective salvation." - Comrade Barack Obama