India’s industrial production contracts to 16.6%

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India’s industrial output declines to 16.6 percent in June as against a 1.3 percent growth year-on-year (YoY), the Index of Industrial Production (IIP) data released by the government on August 11 informed.

In June, the manufacturing sector contracted 17.1 percent as against a growth of 0.3 percent YoY. Mining sector contracted 19.8 percent versus a growth of 1.5 percent on year and electricity production contracted 10 percent as against an 8.6 percent growth in corresponding period last year, the official statement informed.

It further added, the IIP for mining, manufacturing and electricity sectors for the month of June stand at 85.4, 106.9 and 156.2 respectively.

Notably, while releasing the IIP numbers for June 2020, the Centre said, “It may not be appropriate to compare the IIP in the post-pandemic months with the IIP for months preceding the COVID 19 pandemic”.

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