Wednesday, February 11, 2009

Steps to reverse a slowdown in key sectors

Steps to reverse a slowdown in key sectors

The Goverment is ready to take more steps if needed to reverse a slowdown in key sectors, Industry Secretary Ajay Shankar said on Wednesday, ahead of the interim budget to be presented next week.

"We are looking at sector-centric demands and we will take more steps if and when required," he said.

"There is a modest revival of manufacturing sector in January as compared to November and December," he said adding growth in key industries such as cement, steel and automobiles has picked up.

A Reuters poll showed India's industrial output is expected to have risen in December by 1.3 percent from a year earlier, remaining moribund as a sharp decline in demand due to the global slowdown hit factories and exports.

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