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Reserve Bank of India (RBI) Governor Shaktikanta Das on May 22, said that the industrial production shrank by close to 17% in March with manufacturing activity down by 21% in view of deadly COVID-19 pandemic. “Output of core industries contracted by 6.5%,” he added. “Amidst this encircling gloom agriculture and allied activities have, however, provided a beacon of hope on the back of an increase of 3.7% in food grain production to a new record,” Das further said.
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