Industrial production growth declined to 1.7% in January 2019 as per CSO report

Industrial production growth declined to 1.7% in January 2019 as per CSO report

The Central Statistics Office (CSO) has released the data for the Index of Industrial Production (IIP) for the month of January. The IIP data shows that: Industrial output growth stood at 1.7% in January against the 2.6% growth recorded in December 2018. 

Eleven out of the twenty-three industry groups in the manufacturing sector have shown positive growth during the month of January 2019 as compared to January 2018. The cumulative industrial production increased by 4% in April-January FY2019 compared with 4.1% growth in April-January FY2018. 

Index of Industrial Production (lIP):

♦ IIP is a composite indicator that measures the changes in the volume of production of a basket of industrial products during a given period with respect to the volume of production in a chosen base period

♦ The base year for the IIP is 2011-12

About Central Statistics Office (CSO):

♦ Formed: May 2, 1951

♦ Headquarters: New Delhi, India

♦ Minister responsible: DV Sadananda Gowda

♦ The department functions under the Ministry of Statistics and Programme Implementation 

♦ It responsible for co-ordination of statistical activities in India, and evolving and maintaining statistical standards