Index of Industrial Production (IIP) for the month of March 2012 has shown negative growth of 3.5% YoY. Previous Month (February) it was positive growth of 4.1%. So on yearly basis in FY12 the Industrial growth closed substantially low at 2.8% YoY as against 8.2% in FY 11. Consumer Durable Industry has grown marginally at 0.22% in March & 2.56% in FY12.  Such a disappointing March data was not expected by the Market due to which Equity market took it negatively and also impacted the      USD =INR rate . Recently IIP data is showing lot of volatility due to which it is not clear in which direction the Industrial growth is moving. The second concern is authenticity of the data. The way data of Jan 12 was revised from 6.5% to 1.1% socked many including the Finance Minister. Hope such major revision of data will not occur in future.