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Core sector output worst in 52 months; MPC may cut rates to prop up growth

The core sector growth stood at 2.4 per cent during the first five months of the current financial year, lower than the 5.7 per cent a year ago

Core sector output worst in 52 months; MPC may cut rates to prop up growth
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Indivjal Dhasmana New Delhi
The crucial eight-industry core sector output fell by 0.5 per cent in August for the first time in 52 months, prompting economists to believe that the Reserve Bank of India's (RBI’s) monetary policy committee (MPC) will cut the policy rate for the fifth time in a row later this week to prop up the economic growth. 

The sector had grown 2.7 per cent in the previous month. This was revised up from the initial calculation of 2.1 per cent, which was at a 50-month low. 
 
Growth in August last year stood at 4.7 per cent and hence there was not much

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First Published: Sep 30 2019 | 11:11 PM IST

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