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.
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?
Q2. Which ministry released data on India’s industrial production (IIP)?
Ans. Ministry of Commerce and Industry
2022 Preparation Kit PDF
|AATMA-NIRBHAR Series- Static GK/Awareness Practice Ebook PDF||Get PDF here|
|The Banking Awareness 500 MCQs E-book| Bilingual (Hindi + English)||Get PDF here|
|AATMA-NIRBHAR Series- Banking Awareness Practice Ebook PDF||Get PDF here|
|Computer Awareness Capsule 2.O||Get PDF here|
|AATMA-NIRBHAR Series Quantitative Aptitude Topic-Wise PDF 2020||Get PDF here|
|Memory Based Puzzle E-book | 2016-19 Exams Covered||Get PDF here|
|Caselet Data Interpretation 200 Questions||Get PDF here|
|Puzzle & Seating Arrangement E-Book for BANK PO MAINS (Vol-1)||Get PDF here|
|ARITHMETIC DATA INTERPRETATION 2.O E-book||Get PDF here|