Team Blitz India
NEW DELHI: India’s industrial production growth increased by 5 per cent in April 2024, mainly due to the good showing in the mining and power segments, according to official data released on June 12.
Factory output growth, measured in terms of the Index of Industrial Production (IIP), was 5.4 per cent in March and 5.6 per cent in February 2024.
The previous low of IIP was recorded at 4.2 per cent in January, 2024.For the fiscal 2023-24, IIP growth was 5.9 per cent against 5.2 per cent in the preceding financial year.
India’s Index of Industrial Production grew by 4.6 per cent in April 2024, according to a statement by the Ministry of Statistics &Programme Implementation.
As per the latest data, the mining output growth accelerated to 6.7 per cent in April against a 5.1 per cent expansion in the year-ago month.The manufacturing sector’s growth decelerated to 3.9 per cent in April compared to 5.5 per cent a year ago.The power generation increased by 10.2 per cent in April against a contraction of 1.1 per cent in the same month of the last year.
As per use-base classification, the capital goods segment growth fell to 3.1 per cent in April 2024 from 4.4 per cent in the year-ago period.
