A current data launched by the National Statistical Office (NSO) revealed that India’s industrial production rose by 3.7 per cent in June. According to the official data, the manufacturing unit output measured in phrases of the Index of Industrial Production (IIP) grew by 12.6 per cent in June 2022.
The data launched by the NSO additionally confirmed that the manufacturing sector’s output elevated by 3.1 per cent in June 2023. Meanwhile, the mining output rose 7.6 per cent throughout the month underneath assessment. Power output grew 4.2 per cent in June 2023. The IIP grew by 4.5 per cent in April-June 2023 in comparison with 12.9 per cent in the identical quarter in 2022.
IIP growth charge
During the primary quarter (April-June) of 2023-24, the IIP growth works out to be 4.5 per cent, down from 12.9 per cent in the corresponding interval a yr in the past.
“The growth rates over the corresponding period of the previous year are to be interpreted considering the unusual circumstances on account of the COVID-19 pandemic since March 2020,” an official assertion mentioned.
Power era sees an increase
Power era rose 4.2 per cent in June 2023 in comparison with 16.4 per cent a yr in the past. Mining output rose by 7.6 per cent throughout the month underneath assessment in opposition to 7.8 per cent in the year-ago interval.
As per use-based classification, the capital items phase grew 2.2 per cent in June this yr in comparison with 28.6 per cent a yr in the past. Consumer durables output throughout the month declined by 6.9 per cent in opposition to a 25.2 per cent growth in the year-ago interval.
(with PTI inputs)
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