Index of Industrial Production (IIP) Witnessed Contraction of 0.8% in August 2022

• India’s industrial production slipped to an 18-month low, contracting by 0.8 per cent in August, mainly due to a decline in output of the manufacturing and mining sectors, according to official data.
•  The data showed that the previous low in industrial output growth was a contraction of 3.2 per cent in February 2021.
• Index of Industrial Production (IIP) is an index which 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

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