New Delhi, June 7: India is expected to close 1996-97 with a grossly reduced rate of industrial growth around seven per cent from near 12 per cent in the previous financial year.

Continuing its sharp decline, industrial growth slipped further in February 1997 to 2.4 per cent as against 13.3 per cent in the corresponding period of 1996.

A negative growth in mining coupled with the continued lacklustre performance in manufacturing sector during February this year led to cumulative industrial growth slipping to seven per cent during April-February 1996-97 against 11.8 per cent in the similar period of 1995-96.

Copyright © 1997 Indian Express Newspapers (Bombay) Ltd.