India's industrial output fell down in october 2008

India's industrial output fell for the first time in many years by 0.4% last october 08. For the month of october 2007, output had grown by 12.2%.

A year ago; the Index for Industrial Production numbers for the seven-month period ended October, was 4.1% against 9.9%.This time manufacturing industries growth has been in a critical situation.

and also last year, manufacturing sector, which accounts for 80% of the index, declined 1.2% from 13.8%.

The government sought to rescue the manufacturers earlier this month, by announcing an across-the-board 4% cut in excise duty.

During the month, there was a growth by 4.4% in the electricity sector, battering 4.2% output of the year-ago period, while mining sector grew by a slower 2.8% against 5.1% in the previous year's comparable period.

The fall in intermediate and consumer goods was mainly responsible for the overall decline.