The Centre will release the index of industrial production (IIP) data for April 2023 on June 12. May CPI will also be released on the same day. IIP is used to gauge the manufacturing activity in various sectors of an economy.
IIP is a macroeconomic data, and helps policymakers gauge the current state of the country's economy. It should however be noted that it is important to consider various other economic indicators, such as GDP growth, inflation, and employment data to gain a comprehensive view.
IIP measures the amount of industrial production for the period under review in comparison with a reference period.
April IIP growth is seen slowing, and expected at 1.3 percent, compared to 6.7 percent in the year ago period, and 1.1 percent on month-on-month basis. According to a CNBC-TV18 poll, the decline is seen due to the high base and falling exports and imports. On the other hand, rural demand is expected to improve.
As per the official data, India's industrial production (IIP) rose by 1.1 percent in March 2023 as compared to a rise of 5.6 percent in the month prior. The manufacturing sector witnessed half a percent rise in March, whereas the mining sector grew by 6.78 percent.
The power output declined by 1.6 percent for the quarter under review.
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