Factory output seen skidding to 4.8% in '09

Industrial production would fall from 5.1 per cent to 4.8 per cent this fiscal due to a dip in agricultural production, economic think-tank Centre for Monitoring Indian Economy (CMIE) has said.

“We have revised our forecast for growth in industrial production in 2009-10 from 5.1 per cent earlier to 4.8 per cent in light of the failure of the monsoon,” CMIE said in its monthly report.

The fall in agriculture production has a direct bearing on the growth in GDP in 2009-10. Its indirect impact on the growth is also significant.
It further said that it has dropped its forecast for sugar production during 2009-10 .

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