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Manufacturing slowdown halves’ October factory output growth to 2.2% (Second Lead)
New Delhi, Dec 12 (IANS) A slowdown in manufacturing sector almost halved the rise in India’s factory output in October to 2.2 per cent from 4.14 per cent in September and 4.2 per cent during the corresponding month last year, official data showed on Tuesday.
“The general index for October 2017 stands at 123, which is 2.2 per cent higher as compared to the level in October 2016,” the “Quick Estimates” of Index of Industrial Production (IIP) said.
“The cumulative growth for April-October 2017 over the corresponding period of the previous year stands at 2.5 per cent.”
As per the IIP data released by the Central Statistics Office (CSO), the slowdown was mainly on account of deceleration in manufacturing and mining outputs.
On a year-on-year basis, the manufacturing sector, which has the maximum weightage in the overall index, expanded by just 2.5 per cent, whereas mining output was a mere 0.2 per cent and the sub-index of electricity generation by 3.2 per cent.
Among the six use-based classification groups, the output of primary goods grew by 2.5 per cent, intermediate goods by 0.2 per cent, consumer non-durables by 7.7 per cent and infrastructure or construction goods by 5.2 per cent and capital goods by 6.8 per cent.
In contrast, the output of consumer durables fell by (-)6.9 per cent
“In terms of industries, 10 out of the 23 industry groups in the manufacturing sector have shown positive growth during October 2017 as compared to the corresponding month the previous year,” the CSO said.
According to the data, industry group ‘manufacture of pharmaceuticals, medicinal chemical and botanical products’ showed the highest positive growth of 23 per cent followed by 12.8 per cent in ‘manufacture of motor vehicles, trailers and semi-trailers’ and 9.7 per cent in ‘manufacture of computer, electronic and optical products’.
On the other hand, the industry group ‘other manufacturing’ has shown the highest negative growth of (-) 36.4 per cent followed by (-) 20.9 percent in ‘manufacture of tobacco products’ and (-) 16.1 per cent in ‘manufacture of rubber and plastic products’.
–IANS
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Dr. Abhishek Verma Dedicates a Shelter in Memory of His Mother, Veena Verma, at KGMU; Inaugurated by Daughter Nicolle Verma
World-renowned business tycoon Dr. Abhishek Verma has supported Foodman Vishal Singh’s Hunger-Free World mission. In memory of his mother, Late Veena Verma, who was a 3 term Rajya Sabha MP.
Dr. Verma dedicated a state-of-the-art free permanent shelter for the attendants of patients at KGMU Medical University, Lucknow, under the aegis of Vijay Shree Foundation. His daughter, Nicolle Verma, inaugurated the shelter.
During the event, Foodman Vishal Singh honored Nicolle Verma by presenting her with a memento. Mrs. Nidhi Sharma and Avantika Yadav, associated with the organization, welcomed her with garlands. Following this, Nicolle Verma distributed essential items to the attendants and also handed out fruits. She became emotional remembering her grandmother on her birth anniversary.
On this occasion, she also inaugurated the “Veena Verma Sevalaya” in memory of her grandmother, Veena Verma, to serve the attendants. She expressed, “I feel proud that my family is engaged in nation-building as well as social service. Today, in collaboration with Vijay Shree Foundation founder Foodman Vishal Singh Ji, I feel immensely proud to dedicate this shelter for the poor, helpless, and needy attendants of patients battling serious illnesses like cancer. I am honored to be associated with the Hunger-Free World Mission for humanity.”
Inspired by the continuous humanitarian service provided by Vijay Shree Foundation over the past 17 years, Nicolle Verma donated 10 lakh rupees to support the cause. The purpose of this donation is to ensure that services continue for the needy attendants of patients suffering from severe illnesses in hospitals, as facilitated by Foodman Vishal Singh.
It is noteworthy that Dr. Abhishek Verma’s family has a legacy of public and philanthropic service. They are helping millions to carry forward the values and service work of their parents. On the occasion of his mother’s birth anniversary, Dr. Abhishek Verma dedicated this state-of-the-art permanent shelter at Lucknow Medical College to serve the attendants of patients through the Vijay Shree Foundation.
Supporting Foodman Vishal Singh’s Hunger-Free World mission, Dr. Abhishek Verma assured that he would continually support keeping this flame of humanity alive. He also promised to assist in providing medicines to the helpless patients.
Continuing her grandmother’s legacy of service, Nicolle Verma personally served food to the needy patients and attendants. She said, “It is our good fortune to have received the joy of doing this noble work today through Foodman Vishal Singh. I have taken another step forward in carrying my family’s values and cooperation by joining hands with the Vijay Shree Foundation. My father taught me to serve and help the needy, and I feel happy when I bring a smile to someone’s face.”
On the birth anniversary of the late Veena Verma, the event organizer, Vijay Shree Foundation founder Foodman Vishal Singh, said, “We feel proud and happy that Dr. Abhishek Verma, a globally renowned business tycoon, has extended his support to uplift our country from the hunger index. Today, on his mother’s birth anniversary, he inaugurated a state-of-the-art permanent shelter at Lucknow Medical College, which will always be helpful for the needy attendants of patients. It is a pleasure for me and the organization to receive the affection of Mr. Verma.”
The event was attended by General Manager Verma Family Office Hemant Garg, Sonu Rajput, and the organization’s volunteers, including Sandeep Singh, Parmeshwar Ji, Prashant Rao Gautam, Balram Singh, Ramesh Chaudhary, Suman, Jeetu, Anil, Suraj, Vinay, Manish Bhadauria, Manas Mehrotra, Vivek, Apurv, Happy, and others.