Factory production remained in negative territory for the second month in a row, contracting 0.5 per cent in March due to declining output in manufacturing, especially capital goods.Output as measured by the index of industrial production remained almost flat in 2013-14 and declined 0.1 per cent compared with an expansion of 1.1 per cent in 2012-13. The IIP showed growth of 3.5 per cent in March 2013.Expressing disappointment over the factory output numbers for March, India Inc today said the new government should implement quick and bold reforms in order to boost manufacturing sector's growth. Ficci President Sidharth Birla said in a statement that they look to the next Government and hold out strong hope that quick and bold reforms and implementation will enable a high growth path where manufacturing will play a significant role.
News On AIR | May 12, 2014 9:29 PM
Industrial production remains negative, dips 0.5 pc in March