India's Industrial Output Records 5.9% Growth In May

India's Index of Industrial Production (IIP) for May stood at 5.9 per cent, up from 5.7 per cent for the same period a year ago, according to data released by the Ministry of Statistics and Programme Implementation on Friday. For May 2024, the quick estimates of IIP with base 2011-12 stood at 154.2 against 145.6 in May 2023.

The Indices of Industrial Production for the Mining, Manufacturing, and Electricity sectors for the month of May 2024 stand at 136.5, 149.7 and 229.3, respectively. As per Use-based classification, the indices stand at 160.9 for Primary Goods, 105.2 for Capital Goods, 160.8 for Intermediate Goods and 185.1 for Infrastructure/ Construction Goods for May 2024. Further, the indices for Consumer durables and Consumer non-durables stand at 129.8 and 153.3 respectively for May 2024.

The IIP growth rate for May 2024 over the corresponding period of the previous year is 5.9 per cent. The IIP growth rate in May 2023 was 5.7 per cent. The growth rates of the three sectors, Mining, Manufacturing and Electricity for the month of May 2024 over May 2023 are 6.6 per cent, 4.6 per cent and 13.7 per cent respectively.

Within the manufacturing sector, the growth rate of the top three positive contributors to the growth of IIP for the month of May 2024 is - "Manufacture of basic metals" (7.8 per cent), "Manufacture of pharmaceuticals, medicinal chemical and botanical products" (7.5 per cent), and "Manufacture of electrical equipment" (14.7 per cent). The release of the Index for June 2024 will be on Monday, August 12, 2024. (ANI)