Google News
logo
Daily Current Affairs
Industrial production growth dips to 3-month low of_____in June 2023.
A)
3.7%
B)
3.9%
C)
4.3%
D)
4.8%

Correct Answer :   3.7%


India’s industrial production growth declined to a three-month low of 3.7% in June 2023 mainly due to poor showing by the manufacturing sector, according to the official data released on Friday (11th August 2023).

The factory output growth measured in terms of the Index of Industrial Production (IIP) stood at 12.6% in June 2022 on account of a lower base effect.

The previous low of IIP was at 1.9% in March 2023. Thereafter, it rose to 4.5% in April and further to 5.3% in May.

During the first quarter (April-June) of 2023-24, the IIP growth works out to be 4.5%, down from 12.9% in the corresponding period a year ago. “The growth rates over corresponding period of previous year are to be interpreted considering the unusual circumstances on account of COVID 19 pandemic since March 2020,” an official statement said.

As per the IIP data released by the National Statistical Office (NSO), the manufacturing sector’s output grew 3.1% in June 2023 against a 12.9% a year ago.

Power generation rose 4.2% in June 2023 compared to 16.4% a year ago. Mining output rose by 7.6% during the month under review against 7.8% in the year-ago period.

As per use-based classification, the capital goods segment grew 2.2% in June this year compared to 28.6% a year ago.

Consumer durables output during the month declined by 6.9% against a 25.2% growth in the year-ago period. Consumer non-durable goods output increased by 1.2% compared to a growth of 2.9% a year earlier. Infrastructure/construction goods posted a growth of 11.3% over a 9.4% expansion in the same period a year ago.

The data also showed that the output of primary goods logged 5.2% growth in the month against 13.8% in the year-ago period.

The intermediate goods output in June rose 4.5% compared to a 10.5% growth during the corresponding month last year 2022...

Source : Indian Express

Published On : August 12, 2023
Advertisement