Manufacturing sector witnessed a decline by 2.0 pc for the entire quarter against a substantial expansion of 8.6 per cent a year back. Giving some relief to the economy the mining sector growth stood at 5.3 pc as compared to 3.9 pc in the last quarter.
This fiscal, for the first nine months, Indian economy projected a growth rate of 6.9 pc as against 9 pc in the same period of 2007-08. For the whole of 2008-09, the economy projected 7.1 pc growth. To achieve this rate now the economy must grow substantially by over 7 pc next quarter.