Factory output measured in terms of the Index of Industrial Production (IIP) had expanded by 3% in April last year, the data released by Central Statistics Office (CSO) on Friday showed. "The 0.8 per cent contraction in industrial output in April 2016 is inferior to our expectation of a mild growth in that month. Disappointed over the latest IIP data, India Inc on Friday said industrial revival is going to be a major challenge going ahead but expressed hope that the growth will pick up on account of the recent measures taken by the government. The volume-based contraction in manufacturing output in five of the last six months is disheartening," Aditi Nayar, Senior Economist at ICRA, said. But India Inc expressed hope that the growth will pick up on account of the recent measures taken by the government.

Source: dna June 10, 2016 15:33 UTC