A recent data released 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 factory output measured in terms of the Index of Industrial Production (IIP) grew by 12.6 per cent in June 2022.
The data released by the NSO also showed that the manufacturing sector’s output increased by 3.1 per cent in June 2023. Meanwhile, the mining output rose 7.6 per cent during the month under review. Power output grew 4.2 per cent in June 2023. The IIP grew by 4.5 per cent in April-June 2023 compared to 12.9 per cent in the same quarter in 2022.
IIP growth rate
During the first 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 period a year ago.
“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 statement said.
Power generation sees a rise
Power generation rose 4.2 per cent in June 2023 compared to 16.4 per cent a year ago. Mining output rose by 7.6 per cent during the month under review against 7.8 per cent in the year-ago period.
As per use-based classification, the capital goods segment grew 2.2 per cent in June this year compared to 28.6 per cent a year ago. Consumer durables output during the month declined by 6.9 per cent against a 25.2 per cent growth in the year-ago period.
(with PTI inputs)
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