Post-festive season eases India’s November core sector growth
Electricity generation, which has the second-highest weightage of 19.85 percent, inched up by just 1.5 percent, whereas steel production was up by just 0.8 percent last month.
India’s Industrial growth rose by 3.1 per cent to 133.5, according to an official statement released on Friday by the Ministry of Statistics and Programme Implementation (MoSPI).
The IIP had risen 4.4 per cent in September 2021, the data showed.
The Index of Industrial Production (IIP) data for the month of September was released on 11th November with the base year as 2011-12.
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According to the Ministry data, the growth was primarily in mining, manufacturing, and electricity outputs.
The indices of industrial production for the mining, manufacturing, and electricity sectors for the month of September 2022 stood at 99.5, 134.3, and 187.4, respectively. The electricity output had grown only by 1.4 percent in August, which jumped by 11.6 percent on a year-on-year basis in September.
Meanwhile, mining output increased by 4.6 percent following a contraction of 3.9 percent in August.
The manufacturing output did not increase much. Its output increased by 1.8 percent, whereas in August it had declined by 0.5 percent.
These Quick Estimates will undergo revision in subsequent releases as per the revision policy of IIP.
According to use-based classification, the indices stand at 128.2 for primary goods, 102.9 for capital goods, 145.8 for intermediate goods, and 155.8 for infrastructure/ construction goods for the month of September 2022. Further, the indices for consumer durables and Consumer non-durables stand at 125.1 and 136.9 respectively for the month of September 2022.
The release of the index for October 2022 will be on Monday.
The Quick Estimates of Index of Industrial Production (IIP) are released on the 12th of every month (or the previous working day if the 12th is a holiday) with a six-week lag and compiled with data received from source agencies, which in turn receive the data from the producing factories/ establishments, according to the MoSPI statement.
(with inputs from Agencies) India’s Industrial growth rose by 3.1 per cent to 133.5, according to an official statement released on Friday by the Ministry of Statistics and Programme Implementation (MoSPI).
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