Industrial production posted 2.4 per cent growth in November 2008. Industrial output recorded negative growth in previous months, first time in 15 years.

Industrial Output growth rate was 4.9 per cent in the same month last year. It reported increase of 3.9 per cent for first eight months of current financial year as compared to 9.2 per cent in the same period of FY 2007-08.

Improvement in growth rate has been registered due to signs of recovery in industrial activity in second half of November and lower base effect in corresponding month last year helped to improve industrial output.

On Monday, it was revealed by World Bank that action against a total of five entities in India, including Wipro Technologies, and an individual has been taken. This comes in the scene when the controversy involving Satyam's debarment has also not vanished completely.

Besides offering improper benefits to Bank staff, these entities and individual were also found to have violated the fraud and corruption provisions of the Procurement Guidelines or the Consultant Guidelines. So the action against them was taken by the World Bank authorities.

Since the bank lending has remained tight in the recent times, the sales of India's passenger car segment in domestic market declined for the fifth time in the last six months in December. The major reason was the slow economy which forced consumers not to purchase the new vehicles.

There was decline of 7% to 82,105 units in December in car sales from 88,272 sold in the same month last year.

The Indian Automobile Manufacturers (SIAM) said on Monday, "Total automobile sales were down 18.2% at 597,622 units while exports grew by 33% to 138,258 units."

The latest report of Society of Indian Automobile Manufacturers (SIAM) paints a grim picture for the besieged Indian automobile industry.

The report said that the sales of the car in country fell 7 per cent in December, the fifth drop in six months as inadequate finance and a slowing economy hollowed demand in the traditionally weak month. The report predicts that carmakers sold 82,105 units in the month, below the 88,272 sold a year ago.

After dipping into negative zone during October, Index for industrial production (IIP) registered a positive growth of 2.4% in November 2008.

Industrial action has contracted by 0.3% in October 2008.

IIP stood at 4.9% during the corresponding period of the last year (Nov 2007).

For the first eight months, IIP increased by 3.9 percent as against 9.2 percent in the corresponding period of 2007-08.

Another round of price war has begun among mobile operators. After revolutionizing the Indian mobile service market, country's leading telecom services provider, Bharti Airtel, today launched its popular Lifetime Prepaid at a lower price point of Rs 99 only.

Bharti Airtel says it intends to further expand the market, and make mobile services more affordable to its prepaid customers.