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IIP Data: There is a steady decline in the pace of industrial development of the country. In the month of August, the Index of Industrial Production (IIP) has gone negative to an 18-month low. The IIP (Index of Industrial Production) growth rate has been -0.8 percent in August, compared to 2.2 percent in July, 2022. Whereas in the same month a year ago, industrial production grew at the rate of 13 percent. These figures have been released by the Ministry of Statistics and Program Implementation.
In the month of May this year, the figure of the Index of Industrial Production had reached 19.6 percent. But since then it has been declining continuously and now it has gone negative. However, it is believed that this figure has come due to the low base effect.
The pace of industrial development of the country is measured through IIP, from which it is ascertained that at what pace the pace of industrial development of the country is progressing. According to the Ministry of Statistics, in the month of September, the mining output has been 3.9 percent, while the power generation has increased at the rate of 1.4 percent. According to the data, the production of the manufacturing sector in August, 2022 has been – 0.7 percent. Apart from this, mining output has declined by 3.9 percent.
Significantly, in April, 2020, due to the Kovid-19 epidemic, there was a lot of negative impact on industrial production and it came down by 57.3 percent.
On the one hand there is a decline in the growth rate of industrial production and on the other hand there has been a huge increase in the retail inflation rate. Retail inflation has reached 7.41 percent in the month of September.
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