India factory output slides to 5-mth low – survey

MUMBAI: India’s factory output in February grew at its slowest pace in five months as business demands remained dim, a survey showed Monday, suggesting strong government steps were needed to reignite growth.

Banking giant HSBC’s report comes two days after the right-wing government unveiled its first full-year budget, which analysts said skipped big reforms but promised to help the economy “fly” by spending $11.3 billion in infrastructure and tightening expenditure.