Industrial Growth Rises To 3.8% In Dec

Industrial growth rises to 3.8% in Dec

New Delhi, Feb 12 : India’s industrial growth rate recovered to 3.8% in December 2023 from the 8-month low of 2.4 per cent in November, data released by the Ministry of Statistics and Programme Implementation on Monday showed.

 Industrial Growth Rises To 3.8% In

In December 2022, India’s industrial output had grown by 5.1 per cent.

The industrial growth rate for April-December 2023 now works out to 7% as compared to 5.5 percent in April-December 2022.

The growth rate for December picked up on the back of a stronger performance of the manufacturing sector which posted a 3.9% growth as compared to the dismal 1.2 per cent growth in November.The manufacturing sector accounts for more than three-fourths of the index of industrial production (IIP).

The mining sector clocked a 5.1% growth while the electricity generation sector grew at 1.2% during December 2023.

The production of capital goods which comprise machines used in factories went up by 3.2% during the month.This is a positive sign as the segment reflects the real investment taking place in the economy and reis a strength which has a multiplier effect on the creation of jobs and incomes and is a measure of the strength.

The output of consumer nondurable goods such as refrigerators and washing machines increased by 5.2% which shows that demand for these goods is on the rise with more jobs and higher incomes in the economy.



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