Society of Indian Automobile Manufacturers (SIAM) has reported The decline of almost 16% in total automobile industry sales in April as compared to earlier.
The Index of Industrial Production (IIP) for March shows output fell 0.1% from a year earlier to a 21-month low. The capital goods sector shrank by 8.7% on the back of an 8.9% contraction in the preceding month. Output of consumer durables fell 5.1%.
Position of global economy
The position of global economy is also expected to be bad on account of trade war between the two largest economies, the U.S. and China, and rising tensions in West Asia which will is already pushing oil prices.
Expectations from new government
The new government that emerges after May 23 must draw appropriate policy measures that not only help reinvigorate demand but also ensure that such a revival is robust, across-the-board and enduring.