Industrial production of India grew by 16.7 per cent for the month of January, showing a strong positive growth for two consecutive months.

As per the latest data available, the growth of industry between the months of April and January grew by 9.6 per cent.

For the month of January, the manufacturing sector went up by 17.9 per cent. This is less than the figure for December which went up by 18.5 per cent. Meanwhile, the output rise is less than last month's figures. In December, the rise was 17.6 per cent.

It is also less than the median estimates calculated by Dow Jones Newswires poll. As per that, the number should have been 17.07 per cent.

However, the index of industrial production was higher for the month of January.

The reason, besides genuine growth, is that the figure was calculated over last year's slowdown-affected figures. But, Finance Minister Pranab Mukherjee has shown his happiness and said that two consecutive months' rise is an indication that things are getting back to normal.

This also means that the RBI, which comes with revised credit policy, has to consider seriously whether to raise the interest rates.