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IIP rises to 8.1%
Why is it in the news ?
- According to official data released, Industrial production activity rose at almost a one-year high in October.
- The rise is led by strong growth in the manufacturing and mining sectors.
More in the news
- Index of Industrial Production(IIP) growth jumped to 8.1% in October from a four-month low of 4.5% in September aided by a low base and double-digit growth in capital goods and consumer durables output.
- Growth in the electricity sector touched 10.8% in October, up from the 8.24% in September.
- The last time growth in the sector hit double-digits was in April 2016.
- Growth in the consumer goods segment also hit double-digits, coming in at 12.1% in October from 5.68% in the previous month.
- Within this, growth in the consumer durables segment zoomed to 17.56%, up from 5.16% in September.
- Growth in the capital goods sector was at 16.8% in October, up from 6.51% in September.
Index of Industrial Production (IIP)
- The Index of Industrial Production (IIP) is the number denoting the condition of industrial production during a certain period.
- IIP shows the status of industrial activity, you can find out if the industrial activity has increased, decreased or remained same.
- It is important for the IIP to reflect true industrial trends, which in turn has an impact on the policy decision-making.
- These figures are calculated in reference to the base year. Currently the base year is 2011-12.
- Index of Industrial Production (IIP) is released by the Central Statistics Office (CSO) of the Ministry of Statistics and Programme Implementation.
- It dose not consider measuring of informal sector activity .
Source
Indian Express.