Recent official economic data reinforce the perception of a slowdown. Industrial production increased by just 3 per cent in March 2008, the lowest in six years. For the entire year 2007-08, the growth rate is estimated to be 8.13 per cent, more than 3 percentage points below the previous year's figure of 11.6 per cent. Though the Planning Commission has maintained that industrial growth being at the lower end of the anticipated band of 8-8.5 per cent was entirely exp ected, the drop in the rate has several negative connotations for the macroeconomy.

The growth of six core infrastructure industries declined to 5.6 per cent in 2007-08 from 9.2 per cent in 2006-07. However, in March , the growth in these sectors stood at 9.6 per cent compared to 10.5 per cent in March 2007, according to the latest data released by the Government here on Thursday.

Maharashtra Finance Minister Jayant Patil has floated a consultation paper on the concept of creating an exclusive club of progressive states to act as a pressure group for their developmental needs. A meeting of the potential members could take place in the next four months. Patil said he had received "overwhelming response" from progressive states like Gujarat, Maharashtra, Andhra Pradesh, Karnataka, Tamil Nadu and Kerala.

Every week, a fax machine in economic advisor's office at Udyog Bhawan, which houses the commerce and industry ministry, receives price data for items in the Wholesale Price Index (WPI) basket. The data have to be the actual transaction price effective each Friday and is to be submitted on a voluntary basis every week.

Yellow card

The two-day Africa summit in New Delhi last month opened a significant chapter in India's external affairs. Inaugurating the summit, attended by 14 African leaders, Prime Minister Manmohan Singh

The two-day North Eastern Council (NEC) plenary has approved the Vision 2020 to restore the NE region to a position of national economic eminence by the next eight to ten years. After hectic discussion among member States of the NEC in the two-day plenary that commenced here on Monday, DoNER Minister Mani Shankar Aiyer, all Governors and Chief Ministers of the region states signed the Vision-2020 document on Tuesday.

Brazil's environment minister, hailed as a champion of the green movement but scorned by powerful farming groups, resigned on Tuesday after losing key battles in her efforts to protect the Amazon rainforest. Marina Silva's resignation is likely to reinforce the view that President Luiz Inacio Lula da Silva is more concerned with economic development than conservation as a commodities export boom fuels Brazil's growth. It could also be a setback for Brazil's ambitions to become a major voice in global environmental debates.

March Show Worst For Any Month In 6 Years The government, already struggling to control inflation, got some more bad news on the economic front on Monday. The latest data on industrial production shows that it grew by a measly 3% in March this year over the same month last year