According to the key indicators of industrial performance released by the industry ministry, the growth rate has decelerated from 4.0 per cent recorded during April-August 1998 to 2.9 per cent at the end of September.The growth of infrastructure industries during April-August 1997 was 5.8 per cent.

As worked out by the Central Statistical Organisation (CSO) earlier, the index of industrial production during April-August was up by only 3.5 per cent as against 5.5 per cent during the corresponding period last fiscal.

The deceleration during the first five months was noticed in case of various key industries like coal, crude petroleum and fertilisers. As far as investment climate climate was concerned, it was pointed out that the number of investment intentions (LOI and IEM)during April-September 1998 dropped to 1357 from 2122 during the corresponding period last year.Also the number of public issues during the first six months of the current fiscal was down to 18 from 42 in the corresponding period last year.

However, the amount mop-up went up to Rs 2,044 crore as compared to Rs 465 crore in April-September 1997.As far as rights issues were concerned, the number was down to 14 from 28 during April-September 1997 and also the amount mobilised to Rs 235 crore from Rs 1,376 crore in the corresponding period last year.