Manufacturing growth also hit a 15-month low in August as highlighted by the PMI index data.
Growth of eight core industries dropped to 2.1 percent in July, a sharp fall compared to the growth rate of 7.3 percent in the year-ago period.
This has been mainly due to a contraction in coal, crude oil, natural gas and refinery products, according to official data released by the government on September 2.Sakshi Batra discusses the core sector data released by the government with Gaurav Choudhury, Deputy Executive Editor, Moneycontrol.Get access to India's fastest growing financial subscriptions service Moneycontrol Pro for as little as Rs 599 for first year. Use the code "GETPRO". Moneycontrol Pro offers you all the information you need for wealth creation including actionable investment ideas, independent research and insights & analysis For more information, check out the Moneycontrol website or mobile app.