New Delhi: The index of industrial production (IIP) in India grew 3.8 percent in December 2023. Data released by the Ministry of Statistics and Programme Implementation revealed this. It was at 2.4% in November, 2023. Factory output measured in terms of the Index of Industrial Production (IIP) had witnessed a growth of 5.1 percent in December 2022.
As per the data, manufacturing sector output grew by 3.9 per in December, 2023, up from 3.6 per cent in the year-ago month. In December last year, the mining production rose 5.1 per cent and power output increased 1.2 per cent.
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IIP grew 6.1 per cent during the April-December 2023 period compared to a 5.5 per cent expansion in the year-ago period.
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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