Industry performance

The CII ASCON Survey for the period April-June 2012 (estimated) reveals sharp deceleration in the growth of industrial sectors as compared to the corresponding period of the previous year, on the expectations of low investment spending , rupee depreciation, elevated inflation, high trade and fiscal deficits, and uncertain global economic recovery. "The ASCON Survey provides industry outlook for the period April-June 2012 compared to April-June 2011. The survey reveals that many industry sectors have shown a sharp deceleration in growth for April-June quarter of 2012 as compared to April-June (2011).
Most of the respondents of the ASCON survey revealed that the deceleration was mainly due to monetary tightening measures of RBI to control inflation and the effect of global economic slowdown which had a dampening effect on the demand. The situation calls for concerted effort from the Government and the RBI to ensure that we have a cohesive economic recovery plan," said Chandrajit Banerjee, director general , CII. The survey reveals that out of the 114 sectors surveyed comprising more than 35000 companies , for the period April-June 2012, 7.2% of the sectors are expected to register growth of more than 20% as compared to 20.7% in the corresponding period of 2011.