India's industrial output's year-on-year growth increases to 5% in April 2024 - Hindustan Times
close_game
close_game

India's industrial output's year-on-year growth increases to 5% in April 2024

Jun 12, 2024 08:16 PM IST

The top three contributors to India's industrial output growth are primary goods, construction goods, and consumer durables.

The Index of Industrial Production (IIP) grew by 5% for April 2024, compared to 4.6% growth during the same month of the previous year.

IIP tracks activity in manufacturing, mining, and electricity generation
IIP tracks activity in manufacturing, mining, and electricity generation

IIP shows the performance of the industrial sector.

The IIP figure for April 2024 stood at 147.7 compared to 140.7 in the same month last year, according to data released by the Ministry of Statistics and Programme Implementation.

Also Read | ONGC seeks foreign partners for Mumbai High oilfield as output falls

Mining growth increased from 5.1% last year’s April to 6.1% this year and electricity growth increased from a negative growth of -1.1 to 10.2% this year. Manufacturing growth dropped from 5.5% to 3.9%.

The top three contributors to the IIP growth are primary goods (7%), infrastructure/construction goods (8%) and consumer durables (9.8%).

However, the growth rate when compared sequentially is at a 3-month low, as it was 5.6% in February, and 5.4% in March 2024.

Also Read | Four manufacturing units gutted in fire at Kudalwadi

Elevate your career with VIT’s MBA programme that has been designed by its acclaimed faculty & stands out as a beacon for working professionals. Explore now!

See more

Get latest updates on Petrol Price along with Gold Rate , Today Weather and Budget 2024 at Hindustan Times.

SHARE THIS ARTICLE ON
Share this article
SHARE
Story Saved
Live Score
OPEN APP
Saved Articles
Following
My Reads
Sign out
New Delhi 0C
Monday, July 15, 2024
Start 14 Days Free Trial Subscribe Now
Follow Us On