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Business EconomyPosted at: Mar 11 2016 7:45PM


Industrial output shrinks by 1.5 pc in January

New Delhi, Mar 11 (UNI) Pulled down by slowdown in the manufacturing sector, India’s industrial output contracted by 1.5 per cent in January, compared to the same period last year, official data showed.

The industrial production had declined by 3.2 per cent in December.
The dismal figures are likely to put pressure on the Reserve Bank to act. Anyway, the ball is already in the central bank’s court after Finance Minister Arun Jaitley retained fiscal deficit target for the coming year.
While manufacturing sector reported negative growth of 2.8 per cent, mining sector grew at a paltry rate of 1.2 per cent.
But electricity sector posted a decent growth of 6.6 per cent.
The manufacturing sector was hit hard by slowdown, with ten out 22 industry showing negative growth during the month.
The cumulative growth in industry during April-January averaged at 2.7 per cent.
UNI NM AE SB 1945
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