India's industrial production rose 3.2 per cent in October, according to official data released on Friday. As per the Index of Industrial Production (IIP) data by the National Statistical Office (NSO), the manufacturing sector's output grew 2 per cent in October 2021. In October, the mining output climbed 11.4 per cent, and power generation increased 3.1 per cent. The IIP had grown by 4.5 per cent in October 2020. During April-October this year, the IIP grew 20 per cent against a 17.3 per cent contraction in the same period last year. Industrial production has been hit due to the coronavirus pandemic since March last year when it had contracted 18.7 per cent. It shrank 57.3 per cent in April 2020 due to a decline in economic activities in the wake of the lockdown imposed to curb the spread of coronavirus infections.
Double-digit growth in industrial output can be attributed to the impact of a low base
Except crude oil, 7 sectors have shown an uptick YoY
The production of eight core industries rose by 9.4 per cent in July against a 7.6 per cent decline in the year-ago month, official data released on Tuesday showed.
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The cumulative decline during April-February (2020-21) was 11.3%, compared to a growth of 1% during the same period a year ago
The manufacturing sector output contraced by 3.7 per cent in February, while the mining output declined by 5.5 per cent. Meanwhile, the power generation grew by 0.1 per cent
Industrial output shrinks 1.6% in January
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Food inflation declined to 3.41 per cent in December, compared to 9.5 per cent in the previous month
Makes his prediction on the basis of the number of items in the IIP basket that grew in the month of October
The Index of Industrial Production (IIP) grew by 3.6 per cent in October on a year-on-year (YoY) basis compared to a 0.4 per cent expansion in the previous month
The IIP had contracted by 6.6 per cent in October 2019
The industrial output grew by 0.2 per cent in September, according to the Index of Industrial Production (IIP) data
Though September high-frequency indicators offer hope, August IIP data shows well performing FMCG sector went from green to red, while recovery turned stale for primary goods
Slowing pace of recovery and sluggish manufacturing output has experts worrying over Q2 GDP growth
Rating agency ICRA had expected a single-digit contraction in the upcoming print for the Index of Industrial Production for July 2020
The severity of contraction in economic activities due to Covid-19 is declining, but sustainable recovery is far away still. A K Bhattacharya explains the problems and positives for the Indian economy