Kharif foodgrains production will touch 103 million tonnes in 2003-04 compared to 90.5 million tonnes produced in the last year, according to the Centre for Monitoring Indian Economy.
The sowing of kharif rice in southern states was in progress and harvesting was reported in northern parts of the country, CMIE said in its monthly review issued in Mumbai on Monday.
Total foodgrains production is estimated at 208 million tones, it said.
The economic think-tank said in August 2003, the index for industrial production growth slowed down to 5.2 per cent compared to 6 per cent recorded in preceding three months.
During April-August 2003, growth in IIP stood higher at 5.6 per cent as compared to 5.2 per cent increase recorded in the same period of 2002, it said.
Food products, basic metals, transport equipment, beverages and tobacco, wood products, paper products and miscellaneous industries recorded exceptional growth in this period, it added.
On interest rates, CMIE said during FY04 the financial markets remained stable and interest rates have softened with comfortable liquidity in the system.
CMIE said the crude oil production declined by 1.4 per cent during the first half of 2003-04 (5.3 per cent increase in H1 of last year).
In September, the production registered a marginal 0.3 per cent rise, it added.