Infrastructure sector growth rebounds in November

The latest reading on the eight core sector industries could cheer up the markets as well the policymakers alike while also boosting the chance of a reversal in the RBI's policy sooner than later. India's infrastructure sector growth stood at 6.8% in November 2011 versus 3.7% in the same month a year earlier, the Government said on Monday. It may be recalled that India's infrastructure sector output plunged in October to touch its lowest in six years, raising concern about the prospects for industrial production. The growth in the core sector space tumbled to almost zero in October, up by an upwardly revised 0.3%, as compared to 2.3% registered in September. The Index of Eight core industries, having a combined weight of 37.90% in the Index of Industrial Production (IIP) with base 2004-05, stood at 141.1 in November. It was at 140.7 in October and stood at 132.2 in November 2010. Core sector growth during April-November 2011-12 stood at 4.6% versus 5.6% in the corresponding period last year.