Current Affairs Economy & Banking

Category : Economy & Banking

According to the data released by Central Statistics Office (CSO), Index of Industrial production  (IIP) grew at 6.6% in July on the back of good performance by the manufacturing sector and higher offtake of capital goods and consumer durables. The IIP growth for June was also revised downwards to 6.8% from the provisional estimate of 7% released in July.  The IIP growth in April-July period was 5.4% compared to 1.7% year ago.

The Index of Industrial production growth in different Sectors:  1. Manufacturing sector (Weightage: 77.6): recorded 7% growth. 2. Electricity sector (Weightage: 7.9%): recorded 6.7% growth. 3. Mining (Weightage: 14.3%): recorded 3.7% growth. 4. Consumer durables sector: recorded an impressive growth of 14.4% as against dip of 2.4% in July 2017. 5. Capital goods production: grew by 3% as against the decline of 1.1% in July 2017.

Source- The Economic Times