– 5.1 percent increase in IIP in the financial year 2022-23
New Delhi. There is shocking news for the government on the economic front. Industrial production of the country has increased by 1.1 percent in the month of March, while its growth rate was 2.2 percent in the same period a year ago. However, industrial production stood at 5.6 per cent in February.
The National Statistical Office (NSO) has given this information in the data released on Friday. According to NSO, the Index of Industrial Production (IIP) has increased by 1.1 percent in March 2023. In the entire financial year 2022-23, an increase of 5.1 per cent has been registered in IIP, while it increased by 11.4 per cent in the financial year 2021-22.
According to statistics, in March, the last month of the last financial year 2022-23, mining production increased by 6.8 percent while electricity production registered a decline of 1.6 percent. During this period, the production of the manufacturing sector increased by only 0.5 percent. The Index of Industrial Production gives information about the state of production in the industrial sector of an economy during a particular period.
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