April Industrial output growth declines to 5%
Factory output growth, measured in terms of the Index of Industrial Production (IIP), was 5.4% in March and 5.6% in February 2024.
NEW DELHI: India’s industrial production growth slipped to three-month low of 5% in April 2024, mainly due to poor show by the manufacturing sector, though mining and power segments performed well, according to official data released on Wednesday.
Factory output growth, measured in terms of the Index of Industrial Production (IIP), was 5.4% in March and 5.6% in February 2024. The previous low of IIP was recorded at 4.2% in January, 2024.
For the fiscal 2023-24, IIP growth was 5.9% against 5.2% in the preceding financial year. Index of Industrial Production grew by 4.6 per cent in April 2023, according to a statement by the Ministry of Statistics & Programme Implementation. As per the latest data, the mining output growth accelerated to 6.7% in April against a 5.1% expansion in the year-ago month.
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