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Contraction In July IIP A Concern: Basu

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A contraction in India's capital goods production in July is a matter of concern, Kaushik Basu, chief economic adviser in the finance ministry, said on Monday.

Earlier, India's industrial output growth in July surprisingly slumped to 3.3 per cent from a year earlier, its lowest in nearly two years, dragged down by a 15 percent annual decline in capital goods production.


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economy india kaushik basu iip industrial growth