look news india
New Delhi, July 12 (HS). The country's Industrial Production Index (IPP) grew by 5.9 percent on an annual basis in May. It had grown at the rate of 5.7 percent in the same period last year. This increase has been recorded due to the good performance of the mining and power sectors.
National Statistical Office (NSO) released data on Friday saying that the country's industrial production has increased due to the good performance of mining and electricity sectors. In the month of May, it has grown at the rate of 5.9 percent. In the previous month of April, it had grown at the rate of 5 percent.
According to NSO data, mining production grew by 6.6 per cent and power generation by 13.7 per cent in May. However, the growth rate of manufacturing sector production declined to 4.6 per cent in May from 6.3 per cent in the same month last year. According to the data, industrial production growth during April-May in the current financial year 2024-25 was 5.4 per cent, as against 5.1 per cent in the same period a year ago.
It is noteworthy that the previous highest level of the Index of Industrial Production was recorded at 11.9 percent in October 2023. Industrial production activities in the country are measured through IIP.
