look news india
New Delhi, March 12 (HS). The country's industrial production has declined. The growth of industrial production has slowed down to 3.8 percent in the month of January. In the same period last year, this growth rate was 5.8 percent.
The National Statistics Office (NSO) said in the data released on Tuesday that the growth rate of industrial production based on the Index of Industrial Production (IIP) in the month of January was 3.8 percent. Last year, in January 2023, the industrial production rate was 5.8 percent. This decline in IIP in January has come due to poor performance in manufacturing, mining and power sectors.
According to NSO, the production of manufacturing sector increased by 3.2 percent in January whereas it was 4.5 percent a year ago in January, 2023. In January, the production of mining sector was 5.9 percent and the production of power sector was 5.6 percent. Along with this, there has been a growth of 5.9 percent in IIP during April to January in the current financial year 2023-24, whereas it had increased by 5.5 percent in the same period of the last financial year 2022-23.