IIP rises 1.7 % in February compared to 1.5 % in January 2022: Government data

IIP rises 1.7 % in February compared to 1.5 % in January 2022: Government data

• The country’s factory output (IIP) continued to pick up pace in February this year. According to the data released by the Ministry of Statistics and Programme Implementation, IIP rose 1.7 percent in February 2022 compared to a revised estimate of 1.5 percent in January this year.
• As per the government data, the growth in the mining sector was at 4.5 percent in February 2022 as against a contraction of 4.4 percent in February 2021. The manufacturing sector expanded by 0.8 percent in February as compared to a contraction of 3.4 percent in the year-ago month.
• IIP is an index that details 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 fertilizers.

Published date : 18 Apr 2022 06:31PM