Industrial output, tax numbers show note ban impact

IIP contracts 0.4% in December, tax collections growth slower in January

Some impact of currency demonetisation on industries was visible in December, and even a month after, showed two sets of government figures released on Friday.

The Index of Industrial Production (IIP) fell 0.4 per cent in December, after a 5.6 per cent rise the previous month. Corporation tax rose only 2.9 per cent in the April-January period (first 10 months) of the current financial year, although the growth was 4.4 per cent till April-December.

Excise duty collections showed similar impact-the growth was down to 26.3 per cent in January against 31.6 per cent in December. However, these collections also showed the impact