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Govt-industry task force to discuss fall in industrial output

A government-industry task force headed by Commerce and Industry Minister Anand Sharma will meet soon in New Delhi to discuss fall in industrial output and suggest measures to reverse it. Sharma, who also holds the textiles portfolio, recently met Finance Minister P Chidambaram and discussed the macro-economic situation, especially the drop in industrial output.

India's industrial output drops 1.8 percent in June

India's industrial output dropped 1.8 percent in June, the third time in four months, due to a sharp contraction in manufacturing production, government data showed. During the April-June period, factory output measured in terms of the Index of Industrial Production (IIP) has contracted by 0.1 percent, according to data released by the Central Statistics Office.

Headline inflation down but food prices stubbornly high

India's headline inflation fell to 7.25 percent in June from 7.55 percent in the previous month, putting pressure on the Reserve Bank of India to cut interest rates to revive growth. The monthly inflation, based on wholesale price index (WPI), was 9.51 percent during the corresponding month of the previous year.

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