Financial crisis News
IIP shrinks in March, FY12 GDP growth may lag 6.9%
Industrial production contracted 3.5 per cent in March, dragging the cumulative factory output growth last financial year closer to the level of the financial crisis period of 2008-09. This indicates economic expansion has slowed down and it may not be possible for India to achieve GDP growth of 6.9 per cent during 2011-12 as calculated in the advance estimates.
However, the Reserve Bank of India (RBI)
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