The country’s factory output (IIP) accelerated by 7.1 per cent in April as against 1.9 per cent in March 2022. According to the Ministry of Statistics and Programme Implementation data released today the growth in IIP data during April is led by all the sectors. The manufacturing sector recorded a growth of 6.3 per cent in April. The mining sector rose by 7.8 per cent and the electricity sector climbed 11.8 per cent.
IIP is an index that details out the growth of various sectors in the economy. The Eight Core Industries comprise more than 40 percent of the weight of items included in IIP. These are Electricity, steel, refinery products, crude oil, coal, cement, natural gas and fertilisers.