The index of industrial production (IIP) rose by just 1.3 per cent in August 2008 as against 10.9 per cent during the corresponding period last year.
According to Industry ministry officials, this is because of the dismal performance by the manufacturing sector. The sector grew by only 1.1 per cent during last August whereas its growth rate was 10.7 per cent in August 2007.
According to government sources, electricity production grew by just 0.8 per cent during August 2008 as against 9.2 per cent in August 2007. Mining production, which witnessed a rise of 14.7 per cent rise in August 2007 barely rose to 4 per cent this August.
The cumulative increase in industrial production increased by 4.9 per cent during April-August 2008 as against 10 per cent in the corresponding period last year.
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