New Delhi. Good news has come for the government on the economy front. The country’s industrial production (IIP) grew by 11.9 per cent in August. Significantly, in August 2020, industrial production declined by 7.1 percent. The National Statistical Office (NSO) gave this information in the official data released on Tuesday.
According to the data of the National Statistics Office, industrial production grew by 11.9 percent in the month of August. According to the data released by NSO, the growth rate of production in the manufacturing sector in August 2021 was 9.7 percent. According to the data, production in the mining sector grew by 23.6 per cent and that of the power sector by 16 per cent in August.
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It is noteworthy that in the first five months of the financial year 2021-22, April-August, the IIP has increased by 28.6 percent. This resulted in a 25 per cent decline in IIP in the same period of the previous financial year. Industrial production has been affected since March last year due to the COVID-19 pandemic. Due to this, it had declined by 18.7 per cent. In fact, in April 2020, industrial production was down by 57.3 percent due to the nationwide lockdown affecting industrial activities.
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