Signs of a slowdown(editorial)
Recent official economic data reinforce the perception of a slowdown. Industrial production increased by just 3 per cent in March 2008, the lowest in six years. For the entire year 2007-08, the growth rate is estimated to be 8.13 per cent, more than 3 percentage points below the previous year's figure of 11.6 per cent. Though the Planning Commission has maintained that industrial growth being at the lower end of the anticipated band of 8-8.5 per cent was entirely exp ected, the drop in the rate has several negative connotations for the macroeconomy.