Arab Today, arab today indian industrial sector stalls
Last Updated : GMT 20:39:39
Arab Today, arab today
Arab Today, arab today

Indian industrial sector stalls

Arab Today, arab today

Arab Today, arab today Indian industrial sector stalls

New Delhi - AFP

India\'s industrial output grew just 0.1 percent in April year-on-year, official data showed Tuesday, adding to concerns about the economy and raising the chances of an interest rate cut next week. The manufacturing sector, which accounts for three-quarters of the industrial production index, also expanded a weaker-than-expected 0.1 percent. And production of capital goods, a key indicator of investment, shrank 16.3 percent. The data adds to an increasingly gloomy picture of the once-booming Indian economy, which analysts say has been hit by a lack of economic reforms, high interest rates, plummeting business confidence and the eurozone debt crisis. Analysts polled by Dow Jones Newswires had expected industrial production to increase 1.0 percent in April, based on a median of their predictions, after a shock contraction of 3.5 percent in March. The new data comes on the heels of figures published on May 31 showing the Indian economy expanded 5.3 percent in the January-March period, the slowest quarterly growth figure in nine years that led to a round of soul-searching. After a decade of scorching near double-digit economic growth, there is growing alarm that India is sliding back towards its previous expansion rate of 5.0-6.0 percent. The government says India needs higher growth to lift its overwhelmingly poor 1.2-billion population out of poverty and provide the estimated 8.0-10 million new jobs every year to absorb the expected growth in the labour force. In contrast to the woes in India\'s industrial sector, output from China\'s factories grew 9.3 percent in April on a 12-month basis and 9.6 percent in May, the government said at the weekend. Next Monday, India\'s central bank holds a policy meeting where it is expected to cut interest rates again, having raised them 13 times between March 2010 and October 2011. \"The weak industrial production number we have and the generally subdued growth and lower oil prices will add more pressure on the central bank to cut rates next week,\" HSBC Asia analyst Leif Eskesen told local television. He cautioned, however, that \"I don\'t think easing policy rates is the right instrument to improve the growth rate in India.\" Lower interest rates are likely to result in higher inflation -- already at 7.0 percent on an annual basis -- because of India\'s poor infrastructure and other structural constraints, many analysts believe. But the government is also unable to stimulate the economy because of a gaping fiscal deficit and increasing pressure to rein in spending and subsidies. The left-leaning administration of Prime Minister Manmohan Singh has also been unable or unwilling to push through economic reforms such as opening up the retail sector to foreign investment because of disagreements in the coalition. Rating agency Standard & Poor\'s warned Monday that India could be the first of the BRIC emerging economies to lose its investment-grade debt rating unless it revived its growth and rekindled its reform agenda. In April, the firm downgraded India\'s credit outlook to negative from stable, maintaining its rating at \"BBB-\" but warning it faced at least a one-in-three chance of losing its status if its public finances worsened.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today indian industrial sector stalls Arab Today, arab today indian industrial sector stalls

 



Arab Today, arab today
Arab Today, arab today Nohan Seyam designs beautiful accessories for women

GMT 20:02 2017 Tuesday ,21 February

Nohan Seyam designs beautiful accessories for women
Arab Today, arab today Tourism shows signs of recovery

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery
Arab Today, arab today Sarah Belamesh designs antiques of "ceramic"

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"
Arab Today, arab today 11 family members dead in rebel push

GMT 07:57 2017 Tuesday ,21 February

11 family members dead in rebel push
Arab Today, arab today To probe sexual harassment claims

GMT 10:08 2017 Tuesday ,21 February

To probe sexual harassment claims

GMT 14:57 2017 Monday ,20 February

A giant initial public offering on track

GMT 14:50 2017 Monday ,20 February

Energy Market Research

GMT 09:38 2017 Monday ,20 February

Japan returns to trade deficit in January

GMT 07:16 2017 Monday ,20 February

Global arms trade highest since Cold War

GMT 06:10 2017 Monday ,20 February

Tourism shows signs of recovery in Egypt

GMT 05:45 2017 Monday ,20 February

Brexit U-turn ruled out by many in EU
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today 57 monkeys carrying 'invasive' genes

GMT 16:00 2017 Tuesday ,21 February

57 monkeys carrying 'invasive' genes
Arab Today, arab today 63-Year-Old Woman Delivers Baby

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby
Arab Today, arab today Small ponds have outsized impact

GMT 15:53 2017 Tuesday ,21 February

Small ponds have outsized impact
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Competes Sweden and Germans by S90

GMT 22:36 2017 Thursday ,16 February

Competes Sweden and Germans by S90
Arab Today, arab today Ahmed Fahmy stresses he did not ignore singing

GMT 06:34 2017 Sunday ,19 February

Ahmed Fahmy stresses he did not ignore singing
Arab Today, arab today London to tax old cars

GMT 14:06 2017 Friday ,17 February

London to tax old cars

GMT 21:11 2017 Saturday ,18 February

Egypt to hold first session of Arab film festival

GMT 06:50 2017 Wednesday ,15 February

Tragic fluctuations of Bakhtiari's life revealed

GMT 12:22 2017 Monday ,20 February

Kanye West puts hijab-wearing model

GMT 20:41 2017 Wednesday ,15 February

Teach monkeys to recognize themselves in mirror

GMT 23:29 2017 Thursday ,16 February

Home built on sand castles-style costs $8m

GMT 14:51 2017 Monday ,20 February

Ways to acquire presentation skills

GMT 19:16 2017 Friday ,17 February

Aziz House ready to host the tourists

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 12:39 2017 Monday ,20 February

newest smartphone another winner for Huawei

GMT 16:08 2017 Wednesday ,15 February

Shawsh reveals her collection "Jewelry of dreams"
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday