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India's Industrial Slowdown Worsens UPSC NOTE

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  Current State of Industrial Activity India experienced its first decline in factory output since October 2022 due to heavy rains in Augu...

 Current State of Industrial Activity

  • India experienced its first decline in factory output since October 2022 due to heavy rains in August.

  • Output from eight key infrastructure sectors dropped by 0.8% in September compared to August, and increased only 2% compared to last year.

  • These core sectors have grown only 4.2% in the first half of 2024-25, down from 8.2% in the same period last year.

Factors Affecting Industrial Activity

  • Heavy rains and the delayed withdrawal of the monsoon have disrupted industrial and power activities.

  • Weak demand in urban areas for durable goods (like cars) and daily essentials is affecting overall consumption.

  • Capital spending on infrastructure projects by the government has decreased by 15% this year, contributing to weak output in construction-related sectors like steel.

  • While there are signs of recovery in private investments, public infrastructure spending remains crucial for economic growth.


Implications for the Economy

  • The slowdown in industrial activity raises worries about India's economic growth and the potential for a cyclical downturn.

  • Declines in urban spending could hinder overall domestic consumption, which is vital for economic stability.

  • The government's goal of ₹11.11 lakh crore in capital expenditure for the year needs to be met or exceeded to support growth and counteract the slowdown.

  • Strengthening core sectors is essential to revitalize industrial output and support broader economic recovery.

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Learnerz IAS | Concept oriented UPSC Classes in Malayalam: India's Industrial Slowdown Worsens UPSC NOTE
India's Industrial Slowdown Worsens UPSC NOTE
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