New Delhi, Dec 21 (KNN) The manufacturing in the country is on a downslope as compared to the figure from previous year, the data from Ministry of Commerce and Industry revealed.

The information on the performance of the manufacturing sector in the country was revealed yesterday in Rajya Sabha in a reply.

The performance of manufacturing sector as per the Index of Industrial Production (IIP) during last two years stood at 2.8 in 2015-16 followed by 4.4 in the year 2016-17.

This figure is touching a new low of 2.1 per cent so far the data from April to October of 2017-18 revealed.

The manufacturing sector data is dependent on different factors including demand for exports, level of investment and prevailing prices, the release from the Ministry added.

The release further said that the Government aims at creating a conducive environment by streamlining the existing regulations and processes and eliminating unnecessary requirements and procedures.

Earlier, Talking to KNN over the declining output data, V.K Agarwal Past President of Federation of Indian Micro and Small & Medium Enterprises (FISME) said that the economy is certainly in not the best shape and things are moving from bad to worse.

The negative pattern recurring in the quarter wise data is indicative of the turbulent times and the government needs to address this with seriousness. (With PIB Inputs) (KNN/ DA)