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; SNS & PTI
NEW DELHI, 29 MAY: In what must be a dismaying prospect for the new government, the shrinking production of the manufacturing sector pulled down economic growth rate in the fourth quarter of 2008-09 to 5.8 per cent and 6.7 per cent in the entire fiscal.
Impacted by the global financial crisis, manufacturing sector output during the fourth quarter (January-March) dipped by 1.4 per cent against an increase of 6.3 per cent in the corresponding period a year earlier, according to official data.
As regards the entire 2008-09, industrial output growth decelerated sharply to 2.4 per cent from 8.2 per cent in the previous fiscal.