TNI Bureau: While India’s Prime Minister Manmohan Singh is taking so many economic measures to improve the economy, country’s industrial production declined in November, which is a huge setback for the investors. According to reports, the index of industrial production fell 0.1% as compared to previous year.
India is battling to overcome the slowdown in economy, but the recent report on industrial output clearly shows that the country will witness worst condition in the coming months.
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It is expected that the Reserve Bank of India would cut interest rates at its next policy review on Jan. 29.
Country’s industrial output has been weak over the past year that forced the RBI to lower interest rates and the government to implement economic reforms. The economy expanded between 5.2% and 5.5% in the first three quarters of 2012, slower than 9% in early 2011.
The corporate sector might have improved a little but still remains quite weak during that period. The business analysts said that it will continue below the target and capacity.