In­dus­trial out­put tum­bles at fastest rate in 7 yrs in Aug

The Times of India (New Delhi edition) - - Times Sport - NEWS NET­WORK

New Delhi: The coun­try’s in­dus­trial out­put slumped the most in nearly seven years and con­tracted for the first time in over two years in Au­gust. The slump, led by a sharp de­cline in the cru­cial man­u­fac­tur­ing, cap­i­tal goods and con­sumer durables sec­tors, poses a fresh chal­lenge for pol­i­cy­mak­ers al­ready bat­tling a slow­down.

Data re­leased by the Na­tional Sta­tis­ti­cal Of­fice on Fri­day showed the in­dex of in­dus­trial pro­duc­tion fell an an­nual 1.1% in Au­gust, com­pared with growth of 4.6% in the pre­vi­ous month and 4.8% in the year-ear­lier month. This was the sharpest con­trac­tion since the 1.7% de­cline recorded in Novem­ber 2012, ac­cord­ing to data avail­able on the NSO web­site.

The Re­serve Bank of In­dia (RBI) has cut its growth es­ti­mate to 6.1% for 2019-20 from the ear­lier 6.8%.

The gov­ern­ment has un­veiled a se­ries of mea­sures to re­vive growth and has promised to do more.

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