India’s Industrial Production Climbs 3.8 Per Cent In December: Govt

Spread the love


India’s industrial production surged by 3.8 per cent in December 2023, marking a notable uptick from the previous year, National Statistical Office (NSO) data released on Monday showed. According to the Index of Industrial Production (IIP), factory output exhibited a growth rate of 5.1 per cent in December 2022, signifying a substantial expansion in industrial activity.

An official statement highlighted, “India’s Index of Industrial Production grows by 3.8 per cent in December 2023.”

In December 2022, IIP had grown by 5.1 per cent. For April-December 2023, industrial output stood at 6.1 per cent as against 5.5 per cent in April-December 2022.

Data furnished by the NSO showed that the manufacturing sector recorded a robust growth of 3.9 per cent in December 2023, surpassing the 3.6 per cent growth observed in the corresponding period of the previous year.

The mining sector exhibited a significant rise of 5.1 per cent in production during December 2023, while power output saw a modest increase of 1.2 per cent during the same period last year.

ALSO READ | Stock Market Today: Sensex Falls 523 Points; Nifty Tests 21,600. PSU Banks Top Drag, IT Gains

In a broader assessment, the Index of Industrial Production expanded by 6.1 per cent during the April-December 2023 period, surpassing the 5.5 per cent growth recorded in the corresponding period of the previous year.

As per use-based classification, the indices stand at 151.7 for primary goods, 103.3 for capital goods, 159.3 for intermediate goods and 177.9 for infrastructure/ construction goods for the month of December 2023. Further, the indices for consumer durables and consumer non-durables stand at 114.0 and 178.0, respectively, for the month of December 2023.

Meanwhile, the country’s retail inflation eases to 5.10 per cent in January, the lowest in three months, from 5.69 per cent in December.  Latest data released by the NSO on Monday said food and beverage recorded an inflation of 8.3 per cent in January, compared to 8.70 per cent the previous month. In August 2023, inflation touched a high of 6.83 per cent.

ALSO READ | RBI Says No Review Of Action Against Paytm Payments Bank



Source link

Please follow and like us:

Leave a Reply

Your email address will not be published. Required fields are marked *