India’s Index of Industrial Production (IIP) recorded a growth of 5 percent for April 2024 over the corresponding period of the previous year.
The IIP growth rate in April 2023 was 4.6 percent. According to the data released by the Ministry of Statistics and Programme Implementation, growth rates of mining sector for the month of April 2024 over April 2023 was 6.7 percent while the manufacturing sector recorded a growth of 3.9 percent and electricity for the same period grew by 10.2 percent.
Based on use-based classification, the top three positive contributors to the growth of IIP are primary goods, infrastructure or construction goods and consumer durables.
However, the industrial output growth has declined to a three-month low on a month-on-month basis. The IIP slowed to 5 per cent in April, as against 5.4 per cent in March and 5.6 percent in February 2024
