AS was widely anticipated, GDPgrowthin first quarter of the current fiscal slowed to 7.7 % against 8.8 % in Ql of the previous year. The worst offenders are mining (5.6%), manufacturing (3.4%) and construction<6.5%). No wonder steel production went up 7.6% and consumption of steel came down to 1.5% during the period. At the begin-ningof the year, steeldemand was projected to grow by a minimum 10-11% followinga similar pattern in the previ-ousyear.
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