Note-ban im­pact: IIP at 4-month low of -0.4% in Dec

Hindustan Times ST (Mumbai) - Live - - FRONT PAGE - Mint Cor­re­spon­dents

NEW DELHI: In­dia’s in­dus­trial pro­duc­tion con­tracted by 0.4% in De­cem­ber af­ter high-value cur­rency notes were in­val­i­dated the pre­vi­ous month, data re­leased on Fri­day showed. There was a 5% con­trac­tion in pro­duc­tion of con­sumer non-durables and a 10.3% fall in pro­duc­tion of durables.

Mean­while, tax col­lec­tions grew at a healthy pace in Jan­uary, in­di­cat­ing that the gov­ern­ment is on track to achiev­ing its bud­geted col­lec­tion tar­get, at least on the in­di­rect tax front. The pace of growth of ex­cise and ser­vice tax col­lec­tions, how­ever, slowed in the month.

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