Friday, Apr 19, 2024 | Last Update : 05:20 PM IST
India's industrial output recovers 1.2 per cent in July
IIP or industrial output had contracted by 0.2 percent year-on-year in June.
Mumbai: India's industrial output grew 1.2 percent in July, according to government data released on Tuesday.
IIP or industrial output had contracted by 0.2 percent year-on-year in June.
The IIP growth however remained mild due to the introduction of the Goods and Services Tax (GST).
According to data released by the Central Statistics Office, sectors like mining and electricity grew at a pace of 4.8 per cent and 6.5 per cent respectively in July.
The rise in industrial output comes after data released in August showed that the Indian economy was growing at a pace of 5.4 per cent in the first quarter of the financial year. The slowdown was attributed to the disruptions caused by GST and destocking undertaken by manufacturers.
