It is always a good idea to see if survey results are consistent with other indicators of the economy. The problems of measurement make it difficult to do this in India.
Last year in August, the industries had contracted by 6.9%. The eight core industries comprise 40.27% of the weight of items included in the Index of Industrial Production.
Inflation, highest since May 2014, rose both on account of food inflation and core inflation. Economists expect a prolonged pause in rate cuts by the RBI.
The Ministry of Statistics and Programme Implementation attributed the decline to a large number of industrial units not operating from the end of March due to the lockdown.
Index of Industrial Production figures for May are an improvement over the 58% contraction in April, the first full month of the nationwide Covid-19 lockdown.
According to data from the NSO, the manufacturing sector output grew by 1.5 per cent as compared with a rise of 1.3 per cent in the corresponding month a year ago.
After 19 years, the Bombay High Court finally held what governments and intelligence services have long known: The men sentenced for their role in the bombings had nothing to do with it.
Mini deal will likely see no cut in 10% baseline tariff on Indian exports announced by Trump on 2 April, it is learnt, but additional 26% tariffs are set to be reduced.
PTC Industries is investing Rs 1,000 cr in 4 manufacturing plants in UP, has already started supplying titanium parts to BAE Systems for its M-777 howitzers that India also uses.
Public, loud, upfront, filled with impropriety and high praise sometimes laced with insults. This is what we call Trumplomacy. But the larger objective is the same: American supremacy.
COMMENTS