Factory output in terms of IIP grows at 5pc in April
12-Jun-2024 07:20 PM 7958
New Delhi, June 12 (Reporter) India’s factory output grew 5 per cent in the month of April, first month of FY 25, compared to 4.6 per cent growth in the same month last year, according to data released by the government on Wednesday. “The factory output measured in terms of Index of Industrial Production (IIP) growth rate for the month of April 2024 over the corresponding period of previous year is 5.0 percent. The IIP growth rate in April 2023 was 4.6 percent,” an official statement by the Ministry of Statistics & Programme Implementation said. The growth rates of the three sectors, Mining, Manufacturing and Electricity for the month of April 2024 over April 2023 are 6.7 percent, 3.9 percent and 10.2 percent respectively. Within the manufacturing sector, the top three positive contributors to the growth of IIP for the month of April 2024 are – “Manufacture of basic metals” (8.1 per cent), “Manufacture of coke and refined petroleum products” (4.9 per cent), and “Manufacture of motor vehicles, trailers, and semi-trailers” (11.4 per cent). The corresponding growth rates of IIP as per Use-based classification in April 2024 over April 2023 are 7.0 percent in Primary goods, 3.1 percent in Capital goods, 3.2 percent in Intermediate goods, 8.0 percent in Infrastructure/ Construction construction goods, 9.8 percent in consumer durables, and -2.4 percent in consumer non-durables. Based on use-based classification, top three positive contributors to the growth of IIP for the month of April 2024 are – Primary goods, Infrastructure/Construction goods and construction goods, and consumer durables. As per the data released by the National Statistical Office (NSO), the manufacturing sector's output grew 3.9 per cent in the first month i.e., April 2024 against 5.5 per cent in the year-ago month. In April this year, mining production rose 6.7 per cent and power output increased 10.2 per cent...////...
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