The industrial growth entered negative territory in June shrinking by 0.1 per cent.
The industrial growth entered negative territory in June shrinking by 0.1 per cent mainly due to decline in manufacturing and capital goods sectors.
New Delhi: The industrial growth entered negative territory in June shrinking by 0.1 per cent mainly due to decline in manufacturing and capital goods sectors. The data comes at a time when Economic Survey Volume 2 on Friday said that it will be difficult for GDP to touch growth target of 7.5 per cent in the fiscal as predicted earlier by the government.
“Unsurprisingly, the unfavourable base effect, the reduction in inventories ahead of the transition to the GST, and slide in growth of non-oil exports culminated in a marginal contraction of 0.1 per cent in the IIP in June 2017, a 48-month low performance,” said Aditi Nayar, Icra.
( Source : Deccan Chronicle. )
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