27-April-2024
Economy News
 
No factory output growth data for second month in a row; govt to revise IIP policy
11-Jul-2020

The Modi government did not release IIP growth data for the second consecutive month in May 2020. However, the Ministry of Statistics and Programme Implementation (MOSPI) showed that the index for the month of May 2020 gradually improved to 88.4, compared to 53.6 in April 2020. The government said that majority of the factories were not operating from the end of March, 2020 due to the lockdown restrictions imposed to contain the coronavirus pandemic. It added that the effect of lockdown has also been visible on factories’ output even in the subsequent periods of conditional relaxations in restrictions. The IIP for the mining, manufacturing, and electricity sectors stood at 87.0, 82.4, and 149.6 respectively in May. Even as the factories’ output remained subdued in the month of May, IIP for primary goods stood at a slightly elevated level of 105.5, compared to 37.1 for capital goods, 77.6 for intermediate goods, and 84.1 for infrastructure or construction goods.

News Source:- https://www.financialexpress.com/economy/no-factory-output-growth-data-for-second-month-in-a-row-govt-to-revise-iip-policy/2019862/