Industrial growth rate reduced by 2.4% during December!
Posted on: 03/Feb/2015 2:58:38 PM
The growth of the industrial sector has reduced by 2.4% during December, the highest reduction in the last 3 months record.
Crude oil, Natural gas fuel, fertiliser, steel, cement, electricity, coal, and purification are all considered to be important sectors of the construction business.
The growth of these sectors was 4% in December, 2013. This grew further and a growth of 6.7% was recorded during November, 2014.
These sectors constitute 38% of the industrial sectors.
Considering the Reserve Bank of India views the industrial growth for crystallising its Finance policy, the reduction in industrial growth is a setback.
The reduction in the prices of crude oil, natural gas fuel, fertiliser, and steel is attributed to be the main reason for growth reduction.
With the pending review of RBI’s finance Policy, this reduction seems to emphasise the need to reduce the interest rates on lending.
