IIP declines after demonetisation

The index of industrial production (IIP) for the month of December 2016 stood at 183.5, which is 0.4 percent lower as compared to the level in the month of December 2015. The cumulative growth for the period April-December 2016 over the corresponding period of the previous year was a meagre 0.3 percent.

industryThe Indices of Industrial Production for the Mining, Manufacturing and Electricity sectors for the month of December 2016 stood at 144.5, 189.3 and 194.7 respectively, with the corresponding growth rates of 5.2 percent, (-) 2.0 percent and 6.3 percent as compared to December 2015 The cumulative growth in these three sectors during April-December 2016 over the corresponding period of 2015 has been 0.9 percent, (-) 0.5 percent and 5.1 percent respectively.

In terms of industries, seventeen out of the twenty two industry groups in the manufacturing sector have shown negative growth during the month of December 2016 as compared to the corresponding month of the previous year.

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