New Delhi: Industrial growth declined the most in 16 months to 4.4 per cent in September, reflecting a slowdown in demand across sectors, as interest rates rose in response to RBI's tight monetary moves.
As industrial growth almost halved from 8.2 per cent in September 2009, Finance Minister Pranab Mukherjee expressed concern at the sluggish pace of factory output, but reserved detailed comments for want of in-depth analysis.
"We will have to analyse why that is happening. And after that considered comments can be made. But it's a matter of concern," Mukherjee told reporters.
Manufacturing, which constitutes almost 80 per cent of the industrial production, grew at 4.5 per cent in September, against 8.3 per cent a year ago, while electricity generation expanded by a miniscule 1.7 per cent against 7.5 per cent.
The growth rate of less than 4.
Source: PTI
