IIP falls by 2.3 per cent in March

India’s industrial output fell a steeper-than-expected 2.3 per cent in March from a year earlier,its third fall in four months,data showed on Tuesday.

The figure was sharply lower than a forecast for an annual decline of 0.5 per cent in a Reuters poll of economists.

Manufacturing production fell 3.3 per cent in March from a year earlier.

Industrial output rose 2.4 per cent in the 2008/09 fiscal year (April-March),down from a revised 8.5 per cent in 2007/08.