New Delhi: The index of industrial production in India grew by 3.7% in June. Data released by the Ministry of Statistics and Programme Implementation revealed this. It was at 5.2% in May and at 4.2% in April.
In May last year, the factory output, measured by the Index of Industrial Production (IIP) was at all time high-growth of 19.6%. Industrial production grew 12.6% in June 2022.
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The manufacturing sector, which contributes to more than three-fourths of the IIP, increased by 3.1% in June 2023. Mining output rose 7.6% during the month under review. Power output grew 4.2% in June 2023.
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 Eight Core Industries are Electricity, steel, refinery products, crude oil, coal, cement, natural gas, and fertilizers.
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