New Delhi, Oct 12 (SocialNews.XYZ) The index of industrial production (IIP) fell by 0.8 per cent in August, according to data released by the Ministry of Statistics & Programme Implementation (MoSPI).
The IIP had risen by 13 per cent in August 2021.
According to the IIP data, the manufacturing sector's output contracted 0.7 per cent in August 2022.
The mining output contracted 3.9 per cent, while power generation increased 1.4 per cent during August.
IIP is the output of businesses integrated into the industrial sector of the economy.
It is a composite indicator that measures the short-term changes in the volume of production of a basket of industrial products during a given period concerning a chosen base period.
Source: IANS
About Gopi
Gopi Adusumilli is a Programmer. He is the editor of SocialNews.XYZ and President of AGK Fire Inc.
He enjoys designing websites, developing mobile applications and publishing news articles on current events from various authenticated news sources.
When it comes to writing he likes to write about current world politics and Indian Movies. His future plans include developing SocialNews.XYZ into a News website that has no bias or judgment towards any.
He can be reached at gopi@socialnews.xyz