Raising concern over the sharp fall in factory output growth, Reserve Bank Deputy Governor Subir Gokarn said that the latest figures are disconcerting.Gokarn, however said that the IIP numbers alone are not the true indicators of the growth picture, the other indicators are not so negative. He also said that tax collections and corporate earnings are into recovery process and therefore things don't look so bad and does not suggest a massive meltdown.Gokarn said this while addressing Chief Financial Officers Summit organised by the Confederation of Indian Industries in Mumbai today.He said the IIP is suggesting somewhat of a decleration of 5.5 per cent in August and 4.4 per cent in September.For the second month in a row, the factory production numbers almost halved to 4.4 per cent in September, which is a 16-month low from 8.2 per cent in the year-ago period.The September figure is the lowest since the recovery got underway and reflects a slowdown in demand across the sectors, as interest rates rose in response to RBI's tight monetary moves.Asserting that the liquidity situation has gone beyond positive gap, RBI deputy Governor Subir Gokarn today said that the apex bank is taking measures to infuse liquidity into the system. He said while addressing a CII event in Mumbai. He said during the last few weeks the apex bank has relaxed the statutory liquidity ratio limits. He added by saying that to handle the short-term liquidity problems, RBI has done some open market operations and have also restructured the buyback and auctions of government bonds.