The union finance minister Pranab Mukherjee has expressed his diasppointment over the sudden decline of Industrial Output Data (IOD). The output data reduced to 0. 1 per cent in April from 5.3% a year ago.

Pranb Mukherjee has also said that the governemnt would take necessary steps to boost the industry in the country. The minister even mentioned that the performance of the capital good sector was not up to the mark. He added that only 12 out of 22 major industries recorded growth.

The financial experts are of the opinion that this suddent decline in the industrial output data would exert pressure on the Reserve Bank of India to cut lending rates.

(Phani)