Industrial Outlook positive

Finance Minister P Chidambaram described the industrial outlook as positive, a day after official figures showed an industrial production growth of 11.8 per cent in October as compared to a year ago period.

"My outlook is always positive," Chidambaram replied to a query about his outlook on the Index for Industrial Production (IIP) numbers.

He was talking to reporters after a meeting of the Cabinet Committee on economic affairs.

The Finance Minister had yesterday said the government has to wait for IIP numbers for November to reach any conclusion.

He had said April-October figure is still slightly lower than last year's numbers for the same period.

According to the official figures, the industrial production during October grew by 11.8 per cent from 4.5 per cent in the corresponding month last year.

However, for April-October period the growth worked out to be 9.7 per cent, marginally lower than 10.1 per cent recorded in the same period last year.