Reserve Bank of India has said that the Government needs to focus more on manufacturing in order to achieve GDP growth more than 6.5 per cent.Addressing a function in Hyderabad RBI Governor D Subbarao said that the manufacturing sector has the scope for creating jobs for millions of people who leave other sectors such as agriculture.His remarks assume significance in the backdrop of dwindling contribution of manufacturing sector to the GDP.India's economic growth rate slipped to 5.3 per cent in the fourth quarter of 2011-12, the lowest in nearly nine years, following poor performance of the manufacturing and farm sectors.
News On AIR | August 5, 2012 8:20 PM
Govt must focus more on manufacturing for achieving over 6.5% GDP, says RBI