Behind the industrial growth numbers

The growth performance of Indian manufacturing has been rather disappointing, of late. The index of industrial production (IIP) for manufacturing recorded a negative growth of minus 3.7 per cent in February 2014 (year-on-year basis), and in three of the previous four months too. The average growth rate during 2013-14 (April-February) was negative at minus 0.7 per cent, and it was only marginally better at 1.3 per cent during 2012-13.

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