NEW DELHI: Terming the high 13.6 per cent industrial growth in April as a good start for the year, the government on Tuesday said it did not intend to curb demand except in overheated sectors such as housing and real estate.
"Intention is to constraint demand in those sectors where there are signs of what you call overheating and example of that could be real estate and housing. I think in these sectors there is reduction in demand," Finance Minister P Chidambaram said.
The country's industrial production rose 13.6 per cent in April this year from 9.9 per cent in the same month last year.
While manufacturing recorded a robust 15.1 per cent growth,mining grew by just 3.4 per cent.
On the impact of RBI's measures to tighten money supply in these sectors, he said these steps work with a time lag and it might take time to have its impact on the intended sectors.
However, in other sectors there was no intention to reduce demand, Chidambaram said.
The government was also worried of a slowdown in some sectors such as textiles in view of the strengthening of rupee against the dollar.
"We will look into it," the minister said. Paper and mining are also not doing well, he added.
