October IIP dips

Indian Industrial Production has been declined to 15 years low by 0.4 per cent in October. This is a big concern for the economy which is reeling under the pressure of global financial crisis. The fall in the IIP is the first time low in last 15 years.

The fall in the IIP is due to the impact of the Diwali festivals in India and the global financial crisis. The government has declared package for the many sectors and would come up with another package to cover other untouched sectors.

The fall in IIP is a concern for the economy and there should be a package for the industrial sector bail out from the impact of the global financial crisis. Industrial bodies in the India have concern over the fall in IIP in the month October.