New Delhi: The data released by the National Statistical Office revealed that the Index of Industrial Production (IIP) jumped 19.6% in May this year. It was at 7.1%in April this year.
According to the data, the manufacturing sector’s output grew 20.6% in May this year and the mining output climbed 10.9%. The Electricity sector surged by 23.5%.
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In May last year, IIP had surged by 27.6%. It slipped down 57.3% in April 2020, due to Covid-19 pandemic.
IIP is an index that details out the growth of various sectors in the economy. The Eight Core Industries comprise more than 40% of the weight of items included in IIP. These are Electricity, steel, refinery products, crude oil, coal, cement, natural gas, and fertilizers.
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