One reason for decline is muted domestic demand, particularly in rural areas due to high inflation
Infrastructure goods and capital goods grew at a robust 8.1 per cent and 10.95 per cent, respectively
Experts say manufacturing is declining due to a slump in overseas demand and production-linked incentive schemes will take time to yield results
In the first three quarters of FY23 (April- December), IIP grew 5.4 per cent against 15.2 per cent during the year-ago period
Mining output rose by 9.8 per cent and power generation increased by 10.4 per cent during the month under review
The mining output rose by 9.7 per cent and power generation increased by 12.7 per cent during the month under review
The reduction in non-residents' financial assets in India though was relatively lesser at $9.6 billion
Segments are yet to recover from pre-covid period of 2019-20 when the economy started slowing down
India's industrial production grew 3.1 per cent in September, according to official data released on Friday. The Index of Industrial Production (IIP) had grown 4.4 per cent in September 2021. As per the IIP data released by the National Statistical Office (NSO), the manufacturing sector's output grew by 1.8 per cent in September 2022. The mining output rose 4.6 per cent and power generation increased 11.6 per cent during the month.
IIP shrinks 0.8% in Aug - a first in 17 months
For the ninth month in a row, retail inflation has remained above the Reserve Bank of India's tolerance level of 6%
Electricity output has grown around 11%; consumer durables and non-durables have contracted 6.7% and 2.4%, respectively
While most criticisms of the data related to GDP are on overestimating economic activities on ground, the latest one in fact censures it for underestimating the manufacturing sector in recent times
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What do IIP numbers tell us about the economy? What does Martin Wolf think of Indian and global economies? How will the banking sector perform in Q1? Moving averages a must for trading? Answers here
A significant jump in IIP growth indicates economic recovery. Also, is the recovery sustainable given the raging inflation and adverse global geopolitical conditions?
Electricity was the biggest driver of industrial output, rising 23.5%. Manufacturing output grew by 20.6%, while mining output grew by 10.9%
According to MPC's own projections, the inflation rate may not come down below 6% on average before the fourth quarter of the current financial year
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Mining grew at a faster 4.5% in February, from 2.8% in Jan; Mfg growth slipped to 0.8% from 1.1%