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Note-ban takes toll on IIP; Dec output shrinks 0.4

News and Press Release - Dated:- 11-2-2017 - New Delhi, Feb 10 (PTI) Demonetisation took a toll on industrial activity as output contracted to four-month low of 0.4 per cent last December with consumer durables taking the worst hit, plummeting by over 10 per cent due to cash crunch. The factory output had contracted 0.9 per cent in December 2015. The latest decline reflected deterioration in the manufacturing sector on account of cash crunch following the scrapping of the ₹ 500/1000 notes .....

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reason that in many areas old currency was allowed to operate. In December it had gone away, he said. Factory output measured in terms of Index of Industrial Production (IIP) in December declined on account of 2 per cent contraction in manufacturing sector, as against 1.9 per cent decline a year ago. According to data released by the Central Statistics Office on Friday, the previous low was a contraction of 0.7 per cent in August. During the April-December period of the current fiscal, IIP growt .....

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