Tuesday, January 12, 2016

#India's #industrial output nosedive

India's annual industrial output contracted in November, its worst performance in more than four years.Industrial output contracted 3.2 percent in November from a year earlier, compared with upwardly revised growth of 9.9 percent the previous month, as per Ministry of Statistics data.Union government has revised its economic growth target downwards to 7 to 7.5 percent for the fiscal year that ends on March 31, from an earlier estimate of 8.1 to 8.5 percent, due to weak farm output and declining exports.Retail prices were up 5.41 percent in November.