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IIP Growth on a Fall

Published on September 13, 2022
Current Context: In the latest data released by the MoSPI, the IIP registered a rather slow growth of 2.4% in July 2022.
IIP Growth on a Fall
  • In the Index of Industrial Production (IIP), released by the Ministry of Statistics & Programme Implementation (MoSPI), India's industrial growth was measured as 2.4% for July 2022.
  • The IIP had witnessed a growth of 11.2% in July 2021 but it slumped to a mere 2.4% in the latest data by the Ministry. While it was 12.7% in the previous month (April 2022).
  • The industrial growth for FY23 (April-July 2022) has been 10% compared to a growth of 33.9% in the corresponding period in FY22 (April-July 2021).
  • In July 2022, the manufacturing sector witnessed a growth of 3.2%. It was 10.5% for July 2021.
  • The growth for the electricity sector was recorded at 2.3% for July 2022. In July 2021 it was 11.1%.
  • In July 2022, the mining sector saw a negative growth (contraction) of 3.3%. During the corresponding period of July 2021, it was 19.5%.
  • IIP is a composite index that measures the performance of various industrial sectors, viz. manufacturing, electricity, mining, etc. by determining the changes in the volume of production of industrial products during a given period.
  • The industrial index is published monthly by the National Statistical Office (NSO) under MoSPI.

Question:

Q.1 The IIP for July 2022 was measured at?
a. 1.4%
b. 2.4%
c. 3.4%
d. 4.4%
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