MUMBAI, May 10 (Xinhua) -- India's Index of Industrial Production entered negative territory in March, contracting 0.1 percent and indicating a slowdown in consumption.
According to data released Friday by the Central Statistics office, manufacturing output with 78 percent weightage in the index contracted by 0.4 percent in March over the previous month.
However, mining and electricity production grew by 0.8 percent and 2.2 percent respectively, but capital goods output fell 8.7 percent.
Consumer non-durable sector saw a growth of 0.3 percent in March from the previous month, where it grew by 4.3 percent.
Concerns over slowing economy have forced the country's central bank to cut policy rate by 25 basis points for the second consecutive time in April to drive growth.
In the December quarter, the Indian economy grew the slowest in five quarters that promoted the government agency to trim its growth forecast to 7 percent from the previous 7.2 percent.
International Monetary Fund also cut India's growth forecast for 2019-20 by 20 basis points to 7.3 percent.
