Top Section
Explore Business Standard
Don’t miss the latest developments in business and finance.
Chief Economic Adviser K V Subramanian on Saturday said V-shaped recovery of economic activity continued in October and both factory output and core sector growth have inched up to the pre-COVID level. The Index of Industrial Production (IIP) rose 3.6 per cent in October, mainly due to better performance of manufacturing and electricity generation sectors. The manufacturing sector, which has a weightage of 77.6 per cent in the IIP, recorded a growth of 3.5 per cent in October. In the year-ago period, the sector had a contraction of 5.7 per cent, according to data released by National Statistical Office (NSO) on Friday. "V-shaped recovery of economic activity continued in Oct... IIP & eight-core index further inched up to pre-COVID levels. The broad-base recovery in IIP resulted in a growth of 3.6 per cent in October 2020 as compared to a contraction of 6.6 per cent in Oct-19," he said in a series of tweets. Growth in IIP and eight core industries is on the back of broad-based ...