India’s Industrial production growth

India’s Industrial production growth

Team Ambitiousbaba are here with a Current Affairs Special Series. In this series, candidates will be introduced to current affairs topics daily, which will not only improve their general awareness but also will ensure that the candidates do not lack in any current affairs topic. Today’s Current Affairs topic is “India’s Industrial production growth

As per the data released by Commerce Ministry of India, India’s Industrial Production (IIP) has grown up at 1.3% in the month of January. It was hitting a 10-month low in December but now situation is more comfortable.

The Industrial production up just a 0.4% year-on-year growth in December in comparison with 1.4% growth had seen in November 2021. The index is gone up around 13.7% in increasing by successive addition basis in April-January 2021 compared to April-January 2020.

Sectoral growth:

Highest growth: The mining sector saw the highest growth of 2.8% during the January month as compared to a rise of 2.6% in December.

The output of manufacturing sector has been grown by 1.1% as against degrowth of 0.9% in December 2021. However, the electricity generation growth fell back in January 2022 with growth of 0.9% versus 2.8% in December 2021.

Not fulfill expectation:

However, the growth in Industrial Production in January has not impressed the analyst much as they find it relatively slower. Some experts has observed that growth momentum was expected due to the spread of omicron variant of Covid-19 pandemic, but it’s inability to get recovered on a sustained basis point towards deeper problem like weakness in demand and/or supply side issues.

It is seen that four consecutive months of negative growth in consumer durables and capital goods is signaling that neither consumption demand nor the investment demand is showing any traction.

Hope for best:

However, despite the gloomy growth numbers the positive side of January 2022 industrial output is that in level terms it has remained higher than the pre-Covid levels. It is also expected that it will get its momentum in next period of months.

Question & Answer:

Q1. At what percent India’s industrial production has grown up in January 2022?

Ans. 1.3%

Q2. Which ministry released data on India’s industrial production (IIP)?

Ans. Ministry of Commerce and Industry

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