Industrial growth slumps in August (Lead)

October 10th, 2008 - 2:12 pm ICT by IANS  

New Delhi, Oct 10 (IANS) India’s industrial production growth dived to 1.3 percent in August, compared to 10.9 percent in the corresponding period last year, a setback for the government grappling with volatile capital markets and a sluggish economy.The official data on industrial production released by the statistics and programme implementation ministry here Friday showed that industrial production logged 4.9 percent growth during April-August this fiscal, against 10 percent in the previous corresponding period.

The sector-wise growth rate in August sent a rather grim picture to policy-makers as mining, manufacturing, and electricity grew at 4 percent, 1.1 percent and 0.8 percent respectively, whereas the growth logged last year in the same period was 14.7 percent, 10.7 percent and 9.2 percent.

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