Industrial production growth at nine-month high of 4.3% in August

The Industrial production growth has reached the nine-month high of 4.3% in August, according to ​the Central Statistics Office data that got released on Thursday. 

The manufacturing sector also expanded to 3.1% a month after roll out of the goods and services tax (GST).

Retail inflation remained static at 3.28% in September from its revised figure for August. The provisional retail inflation for August was 3.36%.

Earlier, highlihting the adverse impact of GST, RBI trimmed down its economic growth projection based on gross value added (GVA) to 6.7% for 2017-18 from 7.3% that was estimated earlier. 

The International Monetary Fund (IMF) on Tuesday also downgraded its growth forecast for the Indian economy to 6.7% for 2017-18, blaming the GST implementation and demonetisation decision.

Both the Asian Development Bank as well as the Organisation for Economic Cooperation and Development (OECD) have also cut their growth projections for India to 7% and 6.7%, respectively, for FY2017-18.