• UGI USER
  • May 04, 2024
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“MARCH MINING OUTPUT GROWTH SLOWS TO 1.2%, SIGNALLING IIP IMPACT.”

Why in the news?

“India’s mining output growth slows to 1.2% in March, hinting at potential slowdown in overall industrial production.”

source:TH

About the Slowing Growth Trends:

  • India’s mining output growth dropped to a 19-month low of 1.2% in March, down from 8% in February.
  • This decline, signalling potential slowdown in overall industrial output, is concerning ahead of the National Statistical Office’s release on May 10.
  • Mining contributes 14.3% to the Index of Industrial Production (IIP), which saw a four-month high of 5.7% growth in February.
  • The slowdown in core sectors, from 7.1% to 5.2% in March, suggests a probable deceleration in industrial output, with estimates ranging from 3.5% to 5%.
About Index of Industrial Production:

●   Indicator of economic development measuring trends in industrial production.

●   Shows relative change in physical production compared to previous year.

●   Computed and published monthly by Central Statistical Organisation (CSO).

●   Base year: 2011-12.