NEWS /ECONOMY

RETAIL INFLATION CONTINUES IN THE TOLERANCE ZONE IN DECEMBER 2024 : STATISTICAL MINISTRY

DATED 14.01.2025: According to a press release issued today by the Department of Statistics, Government of India, the retail Inflation rate, as measured by the Consumer Price Index ( CPI ), continued in the zone of tolerance band set by the RBI. Retail inflation was 5.22 % in December 2024 against 5.48 % in November 2024.

Food inflation also was down to 8.39 % in December 2024 compared with 9.04 % in November 2024 . The yearly inflation rate was 26.56 % in vegetables, Oils at 14.60 % .

The inflation rate is now within the band of tolerance of 4 % to 6 % set by the Reserve Bank of India.
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To read the Press Release of the ministry CLICK HERE

INDUSTRIAL PRODUCTION GROWS 5.2 % NOVEMBER 2024 : STATISTICAL MINISTRY
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DATED 14.01.2025 : According to the recent press release of Department of Statistics Government of India , Index of Industrial Production ( IIP ) showed a growth of 5.2 % in November 2024 compared with the corresponding month of the previous year ( November 2023 ) . The growth was 1.9 % in Mining, 5.8 % in Manufacturing and 4.4 % in Electricity production.


The quick estimate of IIP with base 2011-12 stood at 148.4 for November 2024 against 144.1 in November 2023 .

Key Highlights of the report :

i. The IIP growth rate for the month of November 2024 is 5.2 percent which was 3.5 percent (Quick Estimate) in the month of October 2024.

ii. The growth rates of the three sectors, Mining, Manufacturing and Electricity for the month of November 2024 are 1.9 percent, 5.8 percent and 4.4 percent respectively.

iii. The Quick Estimates of IIP stands at 148.4 against 141.1 in November 2023. The Indices of Industrial Production for the Mining, Manufacturing and Electricity sectors for the month of November 2024 stand at 133.8, 147.4 and 184.1 respectively.

iv. Within the manufacturing sector, 18 out of 23 industry groups at NIC 2 digit-level have recorded a positive growth in November 2024 over November 2023. The top three positive contributors for the month of November 2024 are – “Manufacture of basic metals” (7.6%), “Manufacture of electrical equipment” (37.2%) and “Manufacture of other non-metallic mineral products” (12.0%).

v. In the industry group “Manufacture of basic metals”, item groups “Galvanized products of Steel (including colour coated tin plates, TMBP and Tin free steel)”, “Pipes and tubes of Steel”, “Flat products of Alloy Steel” have shown significant contribution in growth.

vi. In the industry group “Manufacture of electrical equipment”, item groups “Electric heaters”, “Transformers (Small)”, “End facing connector for optical fibres and cables” have shown significant contribution in growth.

To read the press release , CLICK HERE

GDP GROWTH ESTIMATED NOW AT 6.4 % IN FY 20 24-25 : STATISTICAL MINISTRY


DATED 09.01.2025 : According to a press release of Department of Statistics , Government of India dated 07.01.2025 , Real GDP has been estimated to grow by 6.4 % in FY 2024-25 ( April 2024 to March 2024 ) as compared to the growth rate of 8.2 % of FY 2023-24.

It may be noted that various credit rating agencies, along with the Reserve Bank of India, had already lowered their forecasts for the growth of the Indian economy for the financial years 2024-25 and FY 2025-26. While The Reserve Bank of India (RBI) had revised its GDP growth forecast for India for FY2024- 25 downward to 6.6% , Fitch Ratings had estimated the growth at 6.4 % for the same period .

Key Highlights:

Real GDP has been estimated to grow by 6.4% in FY 2024-25 as compared to the growth rate of 8.2% in Provisional Estimate (PE) of GDP for FY 2023-24. Nominal GDP has witnessed a growth rate of 9.7% in FY 2024-25 over the growth rate of 9.6% in FY 2023-24.

➢ Real GVA has grown by 6.4% in FY 2024-25 over the growth rate of 7.2% in FY 2023-24.Nominal GVA has shown a growth rate of 9.3% in FY 2024-25 as compared to the growth rate of 8.5% in FY 2023-24.

➢ Real GVA of Agriculture and allied sector has been estimated to grow by 3.8% during 2024-25 as compared to the growth of 1.4% witnessed during the last year that is 2023-24.

➢ Real GVA of ‘Construction’ sector and ‘Financial, Real Estate & Professional Services’ sector has been estimated to observe good growth rates of 8.6% and 7.3%, respectively during the FY 2024-25.

➢ Private Final Consumption Expenditure (PFCE) at Constant Prices, has witnessed a growth rate of 7.3% during FY 2024-25 over the growth rate of 4.0% in the previous financial year.

➢ Government Final Consumption Expenditure (GFCE) at Constant Prices, has rebounded to a growth rate of 4.1% as compared to the growth rate of 2.5% in previous Financial Year.

I. Annual GDP Estimates and Growth Rates

Real GDP or GDP at Constant Prices is estimated to attain a level of ₹184.88 lakh crore in the financial year 2024-25, against the Provisional Estimate of GDP for the year 2023-24 of ₹173.82 lakh crore. The growth rate in Real GDP during 2024-25 is estimated at 6.4% as compared to 8.2% in 2023-24. Nominal GDP or GDP at Current Prices is estimated to attain a level of ₹324.11 lakh crore in the year 2024-25, against ₹295.36 lakh crore in 2023-24, showing a growth rate of 9.7%.

Real GVA is estimated at ₹168.91 lakh crore in the year 2024-25, against the PE for the year 2023-24 of ₹158.74 lakh crore, registering a growth rate of 6.4% as compared to 7.2% growth rate in 2023-24. Nominal GVA is estimated to attain a level of ₹292.64 lakh crore during FY 2024-25, against ₹267.62 lakh crore in 2023-24, showing a growth rate of 9.3%

To read the press release , CLICK HERE

RUPEE TOUCHES ALL TIME LOW OF RS 86.39 AGAINST USD

UPDATE of 14.01.2025 : Indian rupee touched another new historical day end low of Rs 86.39 per USD yesterday.

DATED 03.01.2025 : Indian rupee touched a new historical day end low of Rs 85.73 per USD yesterday. Rupee is 4. 45 down (around 3 % down ) compared on a year to year basis .

The rupee is depreciating regularly for the last eight trading sessions and touching new lows . The Indian Rupee (INR) has been depreciating against the US Dollar (USD) over the years due to a confluence of domestic and global factors.

Domestic Factors:

• Higher Oil Prices: India is a significant importer of oil, and rising global oil prices increase the import bill, putting pressure on the Rupee.

• Widening Current Account Deficit: The current account deficit, which measures the difference between a country's exports and imports of goods and services, has widened in recent times, contributing to Rupee depreciation.

• Foreign Portfolio Investment (FPI) Outflows: FPIs have been pulling out money from Indian markets, impacting the demand for Rupees and weakening the currency.

Global Factors:

• Stronger US Dollar: The US Dollar has been strengthening against major currencies due to the Federal Reserve's aggressive interest rate hikes to combat inflation.

• Global Economic Slowdown: Concerns about a global economic slowdown have led to risk-off sentiment among investors, benefiting safe-haven assets like the US Dollar.

• Geopolitical Tensions: Ongoing geopolitical tensions, such as the Russia-Ukraine conflict, also contribute to the strengthening of the US Dollar as a safe-haven currency.

Additional Factors:

• Reserve Bank of India (RBI) Intervention: While the RBI intervenes in the currency market to moderate volatility, its interventions have had limited success in stemming the Rupee's depreciation.

• Market Speculation: Market speculation about the future course of the Rupee can also exacerbate its depreciation.

It's important to note that the depreciation of the Rupee is a complex phenomenon influenced by a multitude of factors, and its impact on the Indian economy is multifaceted. While it can make imports more expensive and increase the cost of foreign debt servicing, it can also boost exports and attract foreign investments.

Though Indian Rupee (INR) is depreciating against the US Dollar (USD) , its performance against other major currencies has been mixed. The INR has generally strengthened or at least held its ground against currencies like the British Pound (GBP), the Euro (EUR), and the Japanese Yen (JPY). This is because these currencies have also weakened against the USD.

INDIAN GDP FORECAST LOWERED

Dated 16.12.2024 : In recent days , various credit rating agencies along with the Reserve Bank of India have lowered their forecast for the growth of Indian economy for the financial year 2024-25 and FY 2025-26.

GDP is the total value of all the goods and services produced within a country's borders in a specific period, usually a year. It's a key indicator of a country's economic health and is used to measure its overall economic activity and growth .

The Reserve Bank of India (RBI) has recently revised its GDP growth forecast for India for FY2024- 25 downward to 6.6% from the earlier projection of 7.2% .

S&P Global Ratings recently revised down its estimate for India's economic growth in the next two financial years as high interest rate and lower fiscal impulse temper urban demand

The rating agency projected a 6.7 percent GDP growth rate in 2025-26 financial year and 6.8 per cent in the following fiscal year, down from 6.9 per cent and 7 per cent, respectively in previous projections. .

CARE Ratings revised downwards its gross domestic product (GDP) growth forecast for FY24 -25 to 6.5 per cent from 6.8 per cent estimated earlier .

India's GDP growth forecast for FY25 is also lowered to 6.4 per cent by Fitch Ratings, reflecting a decline from previous projections . The US-based credit rating agency, Fitch Ratings expects the GDP to rise by 6.4 per cent in FY 24-25 and 6.5 per cent in FY 25-26, slowing from 8.2 per cent in FY23-24 .

However credit agency Moody' s has forecasted a 7.2 per cent growth for calendar year 2024, followed by 6.6 per cent in 2025 and 6.5 per cent in 2026 .

On scrutiny of reasons given by these agencies reveal that Several factors have contributed to the downward revision of India's GDP growth forecast:

1. Weakening Consumer Demand:

Rising Inflation: Persistent high inflation, especially in food prices, has eroded consumer purchasing power, leading to reduced spending on non-essential items.

Higher Interest Rates: The Reserve Bank of India's (RBI) interest rate hikes to curb inflation have increased borrowing costs for individuals and businesses, dampening consumption and investment.

2. Sluggish Private Investment:

Uncertainty and Risk Aversion: Businesses have been cautious about investing due to global economic uncertainties, geopolitical tensions, and domestic policy changes.

Weak Corporate Earnings: Lower-than-expected corporate earnings have reduced investment capacity and willingness to take on new projects.

3. Global Economic Slowdown:

Export Slowdown: A slowdown in global economic growth has impacted India's exports, particularly in sectors like manufacturing and technology.

Supply Chain Disruptions: Ongoing supply chain disruptions, exacerbated by geopolitical tensions, have affected production and trade.

4. Subdued Manufacturing Sector:

Weak Demand: Weak domestic and global demand has impacted manufacturing output, especially in sectors like automobiles and electronics.

Input Cost Pressures: Rising input costs, including energy and raw materials, have squeezed profit margins for manufacturers.

It's important to note that while these factors have led to a downward revision, India's long-term growth prospects remain positive. The government's focus on infrastructure development, digital initiatives, and economic reforms is expected to support growth in the medium to long term.

Sources : Various media reports .

RETAIL INFLATION BACK IN THE TOLERANCE ZONE IN NOVEMBER 2024 : STATISTICAL MINISTRY

DATED 12.12.2024: According to a press release of the Department of Statistics, Government of India Iissued today , the retail Inflation rate as measured by the Consumer Price Index ( CPI ) came back to the zone of tolerance band set by the RBI. The retail inflation was 5.48 % in November 2024 against 6.21 % in October 2024 .

Food inflation also was down to 9.07 % in November 2024 compared with 10.87 % in October 2024 . The yearly inflation rate was 29.33 % in vegetables, Oils at 13.28 % .

The inflation rate is now within the band of tolerance of 4 % to 6 % set by the Reserve Bank of India.
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To read the Press Release of the ministry CLICK HERE

INDUSTRIAL PRODUCTION GROWS 3.5 % OCTOBER 2024 : STATISTICAL MINISTRY
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DATED 12.12.2024 : According to today's press release of Department of Statistics Government of India , Index of Industrial Production ( IIP ) showed a growth of 3.5 % in October 2024 compared with the corresponding month of the previous year ( October 2023 ) . The growth was 0.9 % in Mining, 4.1 % in Manufacturing and 2.0 % in Electricity production.


The quick estimate of IIP with base 2011-12 stood at 149.9 for October 2024 against 144.9 in October 2023 .

Key Highlights:

i. The IIP growth rate for the month of October 2024 is 3.5 percent which was 3.1 percent in the month of September 2024.

ii. The growth rates of the three sectors, Mining, Manufacturing and Electricity for the month of October 2024 are 0.9 percent, 4.1 percent and 2.0 percent respectively.

iii. The Quick Estimates of IIP stands at 149.9 against 144.9 in October 2023. The Indices of Industrial Production for the Mining, Manufacturing and Electricity sectors for the month of October 2024 stand at 128.5, 147.9 and 207.8 respectively.

iv. Within the manufacturing sector, 18 out of 23 industry groups at NIC 2 digit-level have recorded a positive growth in October 2024 over October 2023. The top three positive contributors for the month of October 2024 are – “Manufacture of basic metals” (3.5%), “Manufacture of electrical equipment” (33.1%) and “Manufacture of coke and refined petroleum products” (5.6%).

v. In the industry group “Manufacture of basic metals”, item groups “Pipes and tubes of Steel”, “Galvanized products of Steel (including colour coated tin plates, TMBP and Tin free steel)”, “Bars and Rods of Mild steel” have shown significant contribution in growth.

vi. In the industry group “Manufacture of electrical equipment”, item groups “Electric heaters”, “Transformers (Small)”, “End facing connector for optical fibres and cables”have shown significant contribution in growth.

vii. In the industry group “Manufacture of coke and refined petroleum products” item groups “Petrol/ motor spirit”, “Aviation Turbine Fuel (ATF)”, “Liquefied Petroleum Gas (LPG)” have shown significant contribution in growth.

viii. As per the use base classification, the indices stand at 149.9 for Primary Goods, 109.4 for Capital Goods, 163.4 for Intermediate Goods and 183.0 for Infrastructure/ Construction Goods for the month of October 2024. Further, the indices for Consumer durables and Consumer non-durables stand at 130.2 and 146.3 respectively.

To read the Press Release , CLICK HERE

GDP GROWTH FURTHER SLIPS TO 5.4 % IN Q2 OF FY 20 24-25 : STATISTICAL MINISTRY
Lowest in Seven quarters


DATED 30.11.2024 : According to yesterday's press release of Department of Statistics , Government of India , Real GDP has been estimated to grow by 5.4 % in the Second quarter of FY 2024-25 ( July to September 2024 ) as compared to the growth rate of 8.1 % in the Quarter 2 of FY 2023-24.

Key Highlights:

1. Real GDP has been estimated to grow by 5.4% in Q2 of FY 2024-25 over the growth rate of 8.1% in Q2 of FY 2023-24. Despite sluggish growth observed in Manufacturing (2.2%) and Mining & Quarrying (-0.1%) sectors in Q2 of FY 2024-25, real GVA in H1 (April-September) has recorded a growth rate of 6.2%.

2. Real GVA has grown by 5.6% in Q2 of FY 2024-25 over the growth rate of 7.7% in Q2 of the previous financial year. Nominal GVA has witnessed a growth rate of 8.1 % in Q2 of FY 2024-25 over the growth rate of 9.3% in Q2 of FY 2023-24.

3. Agriculture and Allied sector has bounced back by registering a growth rate of 3.5% in Q2 of FY 2024-25 after sub-optimal growth rates ranging from 0.4% to 2.0%, observed during previous four quarters.

4. In the Construction sector, sustained domestic consumption of finished steel has resulted 7.7% and 9.1% growth rates respectively in Q2 and H1 of FY 2024-25

5. Tertiary sector has observed a growth rate of 7.1% in Q2 of FY 2024-25, as compared to the growth rate of 6.0% in Q2 of the previous financial year. In particular, Trade, Hotels, Transport, Communication & Services related to Broadcasting has seen a growth rate of 6.0% in Q2 of FY 2024-25 over the growth rate of 4.5% in Q2, 2023-24.

6. Private Final Consumption Expenditure (PFCE) has witnessed a growth rate of 6.0% and 6.7% respectively in Q2 and H1 of the FY 2024-25 over the growth rate of 2.6% and 4.0% in Q2 and H1 of the previous financial year.

7. Government Final Consumption Expenditure (GFCE) has rebounded to a growth rate of 4.4% after observing either negative or low growth rates in previous three quarters.

To read the complete press note , CLICK HERE

RETAIL INFLATION GOES ABOVE THE TOLERANCE ZONE IN OCTOBER 2024 : STATISTICAL MINISTRY
VEGETABLE PRICES REMAIN SKY HIGH

DATED 13.11.2024: According to a press release of the Department of Statistics, Government of India, the retail Inflation rate as measured by the Consumer Price Index ( CPI ) jumped above the zone of tolerance band set by the RBI. The retail inflation was 6.21 % in October 2024 against 5.49 % in September 2024 .

Food inflation rose further to 10.87 % in October 2024 compared with 9.24 % in September 2024 . The yearly inflation rate was 42.18 % in vegetables, Oils at 9.51 %, 6.94% in cereals.

The inflation rate is now above the band of tolerance of 4 % to 6 % set by the Reserve Bank of India.
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To read the Press Release of the ministry CLICK HERE

INDUSTRIAL PRODUCTION TURNS POSITIVE IN SEPTEMBER 2024 : STATISTICAL MINISTRY
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DATED 13.11.2024 : According to a press release of Department of Statistics released yesterday , Government of India , Index of Industrial Production ( IIP ) showed a growth of 3.1 % in September 2024 compared with the corresponding month of the previous year ( September 2023 ) . The growth was negative 0.2 % in Mining, 3.9 % in Manufacturing and 0.5 % in Electricity production.


The quick estimate of IIP with base 2011-12 stood at 146.7 for September 2024 against 142.3 in September 2023 .

Key Highlights:

i. The IIP growth rate for the month of September 2024 is 3.1 percent which was (-) 0.1 percent in the month of August 2024.

ii. The growth rates of the three sectors, Mining, Manufacturing and Electricity for the month of September 2024 are 0.2 percent, 3.9 percent and 0.5 percent respectively.

iii. The Quick Estimates of IIP stands at 146.7 against 142.3 in September 2023. The Indices of Industrial Production for the Mining, Manufacturing and Electricity sectors for the month of September 2024 stand at 111.7, 147.0 and 206.9 respectively.

iv. Within the manufacturing sector, top three positive contributors for the month of September 2024 are – “Manufacture of coke and refined petroleum products”

(5.3%), “Manufacture of basic metals” (2.5%), and “Manufacture of electrical equipment” (18.7%).

v. As per the use base classification, the indices stand at 141.3 for Primary Goods, 115.8 for Capital Goods, 160.7 for Intermediate Goods and 178.5 for Infrastructure/Construction Goods for the month of September 2024. Further, the indices for Consumer durables and Consumer non-durables stand at 133.1 and 145.5 respectively.

vi. The corresponding growth rates of IIP as per Use-based classification in September 2024 over September 2023 are 1.8 percent in Primary goods, 2.8 percent in Capital goods, 4.2 percent in Intermediate goods, 3.3 percent in Infrastructure/ Construction Goods, 6.5 percent in Consumer durables and 2.0 percent in Consumer non-durables (Statement III). Based on use-based classification, top three positive contributors to the growth of IIP for the month of September 2024 are –Intermediate goods, Consumer durables and Primary goods

To read the Press Release , CLICK HERE

RETAIL INFLATION COMES BACK TO THE ZONE OF TOLERANCE IN SEPTEMBER 2024 : STATISTICAL MINISTRY
VEGETABLE PRICES SKYROCKET
DATED 24.10.2024: According to a press release of the Department of Statistics, Government of India, the retail Inflation rate as measured by the Consumer Price Index ( CPI ) jumped to zone of tolerance band set by the RBI. The retail inflation was 5.49 % in September 2024 against 3.65 % in August 2024 .

Food inflation rose to 9.24 % in September 2024 compared with 5.66 % in August 2024 . The yearly inflation rate was at 35.99 % in vegetables, pulses at 9.81 %, 6.84% in cereals.

The inflation rate is now within the band of tolerance of 4 % to 6 % set by the Reserve Bank of India.
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To read the Press Release of the ministry, CLICK HERE

INDUSTRIAL PRODUCTION TURNS NEGATIVE IN AUGUST 2024 : STATISTICAL MINISTRY
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DATED 24.10.2024 : According to a press release of Department of Statistics , Government of India , Index of Industrial Production ( IIP ) showed a negative growth of 0.1 % in the month of August 2024 compared with the corresponding month of the previous year ( August 2023 ) . The growth was negative 4.3% in Mining, 1.0 % in Manufacturing and negative 3.7 % in Electricity production.


The quick estimate of IIP with base 2011-12 stood at 145.6 for August 2024 against 145.8 in August 2023 .

i. The IIP growth rate for the month of August 2024 is (-)0.1 percent which was 4.7% in the month of July 2024.

ii. The growth rates of the three sectors, Mining, Manufacturing and Electricity for the month of August 2024 are (-)4.3 percent, 1.0 percent and (-)3.7 percent

respectively. It is likely that the decline in the growth of Mining sector is due to heavy rainfall in the month of August 2024.

iii. The Quick Estimates of IIP stands at 145.6 against 145.8 in August 2023. The Indices of Industrial Production for the Mining, Manufacturing and Electricity sectors for

the month of August 2024 stand at 107.1, 145.9 and 212.3 respectively.

iv. Within the manufacturing sector, top three positive contributors for the month of August 2024 are – “Manufacture of basic metals” (3.0%), “Manufacture of electrical

equipment” (17.7%), and “Manufacture of chemicals and chemical products” (2.7%).

v. As per the use base classification, the indices stand at 141.6 for Primary Goods, 108.1 for Capital Goods, 162.2 for Intermediate Goods and 180.2 for Infrastructure/

Construction Goods for the month of August 2024. Further, the indices for Consumer durables and Consumer non-durables stand at 129.6 and 141.6 respectively.

vi. The corresponding growth rates of IIP as per Use-based classification in August 2024 over August 2023 are (-)2.6 percent in Primary goods, 0.7 percent in Capital goods, 3.0 percent in Intermediate goods, 1.9 percent in Infrastructure/ Construction Goods, 5.2 percent in Consumer durables and (-)4.5 percent in Consumer non-

durables (Statement III). Based on use-based classification, top three positive contributors to the growth of IIP for the month of August 2024 are –Intermediate

goods, Consumer durables and Infrastructure/ Construction Goods

To read the Press Release , CLICK HERE

RETAIL INFLATION CONTINUES BELOW THE RBI COMFORT ZONE IN AUGUST 2024 : STATISTICAL MINISTRY

DATED 14.09.2024 : According to a press release of the Department of Statistics , Government of India released yesterday , the retail Inflation rate as measured by the Consumer Price Index ( CPI ) continued below the tolerance band set by the RBI . The retail inflation was at 3.65 % in August 2024 against 3.54 % in July 2024 .

Food inflation was at 5.66 % in August 2024 compared with 5.42 % in July 2024 . The yearly inflation rate was at 10.71 % in vegetables , pulses 13.60 % , 7.31% in cereals .

The inflation rate is now a notch below the band of tolerance of 4 % to 6 % set by the Reserve Bank of India.
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To read the Press Release of the ministry , CLICK HERE

INDUSTRIAL PRODUCTION GROWS 4.8 % IN JULY 2024 : STATISTICAL MINISTRY
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DATED 14.09.2024 : According to press release of Department of Statistics , Government of India released yesterday , Index of Industrial Production ( IIP ) grew by 4.8 % in the month of July 2024 compared with the corresponding month of previous year ( July 2023 ) . The growth was 3.7 % in Mining , 4.6 % in Manufacturing and 7.9 % in Electricity production .


The quick estimate of IIP with base 2011-12 stood at 149.6 for the month of July 2024 against 142.7 in July 2023 .

i. The IIP growth rate for the month of July 2024 is 4.8 percent which was 4.7% in the month of June 2024.

ii. The growth rates of the three sectors, Mining, Manufacturing and Electricity for the month of July 2024 are 3.7 percent, 4.6 percent and 7.9 percent respectively.

iii. The Quick Estimates of IIP stands at 149.6 against 142.7 in July 2023. The Indices of Industrial Production for the Mining, Manufacturing and Electricity sectors for the month of July 2024 stand at 116.0, 148.6 and 220.2 respectively.

iv. Within the manufacturing sector, top three positive contributors for the month of July 2024 are – “Manufacture of basic metals” (6.4%), “Manufacture of coke and refined petroleum products” (6.9%), and “Manufacture of electrical equipment” (28.3%).

v. As per the use base classification, the indices stand at 150.1 for Primary Goods, 114.4 for Capital Goods, 164.3 for Intermediate Goods and 178.7 for Infrastructure/ Construction Goods for the month of July 2024. Further, the indices for Consumer durables and Consumer non-durables stand at 126.6 and 146.8 respectively.

vi. The corresponding growth rates of IIP as per Use-based classification in July 2024 over July 2023 are 5.9 percent in Primary goods, 12.0 percent in Capital goods, 6.8 percent in Intermediate goods, 4.9 percent in Infrastructure/ Construction Goods,8.2 percent in Consumer durables and -4.4 percent in Consumer non-durables .

To read the Press Release , CLICK HERE

GDP GROWTH SLIPS TO 6.7 % IN Q1 OF FY 20 24-25 : STATISTICAL MINISTRY
Lowest in five quarters


DATED 31. 08.2024 : According to yesterday's press release of Department of Statistics , Government of India , Real GDP has been estimated to grow by 6.7 % in the First quarter of FY 2024-245 ( April to June 2024 ) as compared to the growth rate of 8.2 % in the Quarter 1 of FY 2023-24. Nominal GDP has witnessed a growth rate of 9.7% in Q1 of FY 2024-25 over the growth rate of 8.2% in Q1 of FY 2023-24.

Key Highlights:

1. Real GDP has been estimated to grow by 6.7% in Q1 of FY 2024-25 over the growth rate of 8.2% in Q1 of FY 2023-24.

2. Nominal GDP has witnessed a growth rate of 9.7% in Q1 of FY 2024-25 as compared to the growth rate of 8.5% in Q1 of FY 2023-24.

3. Real GVA has grown by 6.8% in Q1 of FY 2024-25 over the growth rate of 8.3% in Q1 of the previous financial year. This GVA growth in the Q1 of FY 2024-25 has been driven by significant growth in the Secondary Sector (8.4%), comprising of Construction (10.5%), Electricity, Gas, Water Supply & Other Utility Services (10.4%) and Manufacturing (7.0%) sectors.

4, Growth rate in Nominal GVA for Q1 of FY 2024-25 have been estimated at 9.8% over 8.2% growth rate in Q1 of FY 2023-24.

5 Private Final Consumption Expenditure (PFCE) and Gross Fixed Capital Formation (GFCF), at Constant Prices, have witnessed growth rates of 7.4% and 7.5% respectively in Q1 of FY 2024-25.

6 Net Taxes, at Current Prices, has observed the growth rate of 8.0 % in Q1 of FY 2024-25 resulting in 0.1% point gap between the growth rates of GVA and GDP.

To read the complete press note , CLICK HERE

RETAIL INFLATION GOES BELOW RBI COMFORT ZONE IN JULY 2024 : STATISTICAL MINISTRY

DATED 12.08.2024 : According to press release of Department of Statistics , Government of India released today , retail Inflation rate as measured by Consumer Price Index ( CPI ) went down to 3.54 % in July 2024 against 5.08 % in June 2024 .

Food inflation also cooled down to 5.42 % in July 2024 compared with 9.36 % in June 2024 . The yearly inflation rate subdued to 6.83 % in vegetables , pulses 14.77 % , 8.14 % in cereals .

The inflation rate is now a notch below the band of tolerance of 4 % to 6 % set by Reserve Bank of India .
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To read the Press Release of the ministry , CLICK HERE

INDUSTRIAL PRODUCTION GROWS 5.9 % IN JUNE 2024 : STATISTICAL MINISTRY
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DATED 12.08.2024 : According to press release of Department of Statistics , Government of India released today , Index of Industrial Production ( IIP ) grew by 4.2 % in the month of June 2024 compared with the corresponding month of previous year ( June 2023 ) . The growth was 10.3 % in Mining , 2.6 % in Manufacturing and 8.6 % in Electricity production .

The quick estimate of IIP with base 2011-12 stood at 150 for the month of June 2024 against 143.9 in June 2023 .
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The press release reads

The Quick Estimates of Index of Industrial Production (IIP) are released on 12th of every month (or previous working day if 12th is a holiday) with a six weeks lag and compiled with data received from source agencies, which in turn receive the data from the producing factories/ establishments. These Quick Estimates will undergo revision in subsequent releases as per the revision policy of IIP.

2. Key Highlights:

Indices

i. For the month of June 2024, the Quick Estimates of IIP with base 2011-12 stands at 150.0 against 143.9 in June 2023. The Indices of Industrial Production for the

Mining, Manufacturing and Electricity sectors for the month of June 2024 stand at 134.9, 145.3 and 222.8 respectively.

ii. As per Use-based classification, the indices stand at 156.0 for Primary Goods, 110.0 for Capital Goods, 159.0 for Intermediate Goods and 178.4 for Infrastructure/

Construction Goods for the month of June 2024. Further, the indices for Consumer durables and Consumer non-durables stand at 126.9 and 144.6 respectively for the

month of June 2024.

Growth Rate (Y-o-Y)

i. The IIP growth rate for the month of June 2024 over the corresponding period of previous year is 4.2 percent. The IIP growth rate in June 2023 was 4.0 percent. The

growth rates of the three sectors, Mining, Manufacturing and Electricity for the month of June 2024 over June 2023 are 10.3 percent, 2.6 percent and 8.6 percent

respectively. Within the manufacturing sector, the growth rate of the top three positive contributors to the growth of IIP for the month of June 2024 are –

“Manufacture of basic metals” (4.9%), “Manufacture of electrical equipment” (28.4%), and “Manufacture of motor vehicles, trailers and semi-trailers” (4.1%).

ii. The corresponding growth rates of IIP as per Use-based classification in June 2024 over June 2023 are 6.3 percent in Primary goods, 2.4 percent in Capital goods, 3.1

percent in Intermediate goods, 4.4 percent in Infrastructure/ Construction Goods, 8.6 percent in Consumer durables and -1.4 percent in Consumer non-durables

(Statement III). Based on use-based classification, top three positive contributors to the growth of IIP for the month of June 2024 are – Primary goods, Consumer

durables and Infrastructure/Construction goods.

To read the Press release . CLICK HERE

RETAIL INFLATION CONTINUES IN COMFORT ZONE IN JUNE 2024 : STATISTICAL MINISTRY

DATED 13.07.2024 : According to press release of Department of Statistics , Government of India released yesterday , retail Inflation rate as measured by Consumer Price Index ( CPI ) rose to 5.08 % in June 2024 against 4.75 % in May 2024 .

Food inflation also rose to 9.36 % in June 2024 compared with 8.69 % in May 2024 . The yearly inflation rate of 29.32 % in vegetables , pulses 16.07 % , 8.75 % in cereals and spices at 2.06 % is also seen .

The inflation rate is within the band of tolerance of 4 % to 6 % set by Reserve Bank of India .
​​
To read the Press Release of the ministry , CLICK HERE

INDUSTRIAL PRODUCTION GROWS 5.9 % IN MAY 2024 : STATISTICAL MINISTRY
​

DATED 13.07.2024 : According to press release of Department of Statistics , Government of India released yesterday , Index of Industrial Production ( IIP ) grew by 5.9 % in the month of May 2024 compared with the corresponding month of previous year ( May 2023 ) . The growth was 6.6 % in Mining , 4.6 % in Manufacturing and 13.7 % in Electricity production .


The quick estimate of IIP with base 2011-12 stood at 147.7 for the month of April 2024 against 140.7 in April 2023 .

The press release reads

The Quick Estimates of Index of Industrial Production (IIP) are released on 12th of every month (or previous working day if 12th is a holiday) with a six weeks lag and compiled with data received from source agencies, which in turn receive the data from the producing factories/ establishments. These Quick Estimates will undergo revision in subsequent releases as per the revision policy of IIP.

2. Key Highlights:

Indices

i. For the month of May 2024, the Quick Estimates of IIP with base 2011-12 stands 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.

ii. 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 the month of May 2024. Further, the indices for Consumer durables and Consumer non-durables stand at 129.8 and 153.3 respectively for the month of May 2024.

Growth Rate (Y-o-Y)

i. The IIP growth rate for the month of May 2024 over the corresponding period of previous year is 5.9 percent. The IIP growth rate in May 2023 was 5.7 percent. The

growth rates of the three sectors, Mining, Manufacturing and Electricity for the month of May 2024 over May 2023 are 6.6 percent, 4.6 percent and 13.7 percent

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 are –

“Manufacture of basic metals” (7.8%), “Manufacture of pharmaceuticals, medicinal chemical and botanical products” (7.5%), and “Manufacture of electrical

equipment” (14.7%).

2

ii. The corresponding growth rates of IIP as per Use-based classification in May 2024 over May 2023 are 7.3 percent in Primary goods, 2.5 percent in Capital goods, 2.5

percent in Intermediate goods, 6.9 percent in Infrastructure/ Construction Goods, 12.3 percent in Consumer durables and 2.3 percent in Consumer non-durables

(Statement III). Based on use-based classification, top three positive contributors to the growth of IIP for the month of May 2024 are – Primary goods, Consumer

durables and Infrastructure/Construction goods

​

RETAIL INFLATION CONTINUES IN COMFORT ZONE IN MAY 2024 : STATISTICAL MINISTRY

DATED 13.06.2024 : According to press release of Department of Statistics , Government of India released yesterday , retail Inflation rate as measured by Consumer Price Index ( CPI ) stood at 4.75 % in May2024 against 4.83 % in April 2024 .

Food inflation cooled a bit to 8.69 % in May 2024 compared with 8.70 % in April 2024 . The yearly inflation rate of 27.33 % in vegetables , pulses 17.14 % , 8.69 % in cereals and spices at 4.27 % is also seen .

The inflation rate is within the band of tolerance of 4 % to 6 % set by Reserve Bank of India .
​​
To read the Press Release of the ministry , CLICK HERE

INDUSTRIAL PRODUCTION GROWS 5.0 % IN APRIL 2024 : STATISTICAL MINISTRY
​

DATED 13.06.2024 : According to press release of Department of Statistics , Government of India released yesterday , Index of Industrial Production ( IIP ) grew by 5.0 % in the month of April 2024 compared with the corresponding month of previous year ( April 2023 ) . The growth was 5.1 % in Mining , 5.5 % in Manufacturing and negative 1.1 % in Electricity production .


The quick estimate of IIP with base 2011-12 stood at 147.7 for the month of April 2024 against 140.7 in April 2023 .

The press release reads
​The Quick Estimates of Index of Industrial Production (IIP) are released on 12th of every month (or previous working day if 12th is a holiday) with a six weeks lag and compiled with data received from source agencies, which in turn receive the data from the producing factories/ establishments. These Quick Estimates will undergo revision in subsequent releases as per the revision policy of IIP.

2. Key Highlights:
Indices
i. For the month of April 2024, the Quick Estimates of IIP with base 2011-12 stands at 147.7 against 140.7 in April 2023. The Indices of Industrial Production for the Mining, Manufacturing and Electricity sectors for the month of April 2024 stand at 130.8, 144.2 and 212.0 respectively.

ii. As per Use-based classification, the indices stand at 152.2 for Primary Goods, 95.3 for Capital Goods, 156.9 for Intermediate Goods and 183.3 for Infrastructure/ Construction Goods for the month of April 2024. Further, the indices for Consumer durables and Consumer non-durables stand at 118.7 and 151.0 respectively for the month of April 2024.

Growth Rate (Y-o-Y)

i. The IIP growth rate for the month of April 2024 over the corresponding period of previous year is 5.0 percent. The IIP growth rate in April 2023 was 4.6 percent. The growth rates of the three sectors, Mining, Manufacturing and Electricity for the month of April 2024 over April 2023 are 6.7 percent, 3.9 percent and 10.2 percent respectively. Within the manufacturing sector, the growth rate of the top three positive contributors to the growth of IIP for the month of April 2024 are – “Manufacture of basic metals” (8.1%), “Manufacture of coke and refined petroleum products” (4.9%), and “Manufacture of motor vehicles, trailers and semi-trailers” (11.4%).

To read Press release , CLICK HERE
​

INDIAN GDP GROWS AT 8.2 % IN FY 23-24 :

GDP GROWS 8.2 % IN THE FY 20 23-24 : STATISTICAL MINISTRY
Surpasses all estimates


DATED 01. 06.2024 : According to yesterday's press release of Department of Statistics , Government of India , Real GDP has been estimated to grow by 8.2% in FY 2023-24 as compared to the growth rate of 7.0% in FY 2022-23. Nominal GDP has witnessed a growth rate of 9.6% in FY 2023-24 over the growth rate of 14.2% in FY 2022-23.
The actual GDP growth for FY 23-24 came in at a higher-than-expected 8.2%, surpassing most predictions . This positive growth was driven by factors like strong manufacturing and construction sectors, along with increased government spending .

Expectations for India's GDP growth in FY 23-24 varied from different sources: While world Bank predicted 6.5 % , IMF at 6.8 % . RBI at 7.0% and economic survey had predicted 8.0 % .

Growth inAgriculture & Allied Activities: This sector witnessed a slower growth rate of 1.8% compared to other sectors [1]. This could be due to factors like weather fluctuations or challenges in agricultural production.

Growth in Industry: This sector, particularly Manufacturing, saw a significant turnaround. After a contraction of -2.2% in FY 22-23, the manufacturing sector bounced back with an impressive growth of 9.9% in FY 23-24 [3]. This growth likely reflects increased domestic demand and a revival of industrial activity.

OTHER HIGHLIGHTS :

Real GVA has grown by 7.2% in 2023-24 over 6.7% in 2022-23. This GVA growth has been mainly due to significant growth of 9.9% in Manufacturing sector in 2023-24 over -2.2% in 2022-23 and growth of 7.1% in 2023-24 over 1.9% in 2022-23 for Mining & Quarrying sector.

➢ Real GVA and Real GDP have been estimated to grow by 6.3% and 7.8% respectively in Q4 of FY 2023-24. Growth rates in Nominal GVA and Nominal GDP for Q4 of FY 2023-24 have been estimated at 8.0% and 9.9% respectively.

QUARTER IV JAN-MARCH 2024 GDP GROWTH :

Real GDP or GDP at Constant Prices in Q4 of 2023-24 is estimated at ₹47.24 lakh crore, against ₹43.84 lakh crore in Q4 of 2022-23, showing a growth rate of 7.8%. Nominal GDP or GDP at Current Prices in Q4 of 2023-24 is estimated at ₹78.28 lakh crore, against ₹71.23 lakh crore in
Q4 of 2022-23, showing a growth rate of 9.9%.

Real GVA in Q4 of 2023-24 is estimated at ₹42.23 lakh crore, against ₹39.74 lakh crore in Q4 of 2022-23, showing a growth rate of 6.3%. Nominal GVA in Q4 of 2023-24 is estimated at ₹70.97 lakh crore, against ₹65.74 lakh crore in Q4 of 2022-23, showing a growth rate of 8.0%.

​To read the Press notification of the ministry and complete statistics , CLICK HERE ​

RETAIL INFLATION CONTINUES IN COMFORT ZONE IN APRIL 2024 : STATISTICAL MINISTRY

DATED 13.05.2024 : According to press release of Department of Statistics , Government of India released today , retail Inflation rate as measured by Consumer Price Index ( CPI ) stood at 4.83 % in April 2024 against 4.85 % in March 2024 .

Food inflation raised a bit to 8.70 % in April 2024 compared with 8.52 % in March 2024 . The yearly inflation rate of 27.80 % in vegetables , pulses 16.84 % 8.63 % in cereals and spices at 11.40 % is also seen .

The inflation rate is within the band of tolerance of 4 % to 6 % set by Reserve Bank of India .
​​
To read the Press Release of the ministry , CLICK HERE

INDUSTRIAL PRODUCTION GROWS 4.9 % IN MARCH 2024 : STATISTICAL MINISTRY
​

DATED 11.05.2024 : According to press release of Department of Statistics , Government of India released yesterday , Index of Industrial Production ( IIP ) grew by 4 .9 % in the month of March 2024 compared with the corresponding month of previous year ( March 2023 ) . The growth was 1.2 % in Mining , 5.2 % in Manufacturing and 8.6 % in Electricity production .

For the financial year 2023-24 , the cumulative growth stands at 5.8 % compared with the previous financial year 2022-23 . The growth was contributed by 7.5 % in Mining , 5.5 % in Manufacturing and 7.1 % in Electricity production .


The quick estimate of IIP with base 2011-12 stood at 159.2 for the month of March 2024 against 151.7 in March 2023 .
​
The press release reads
​The Quick Estimates of Index of Industrial Production (IIP) are released on 12th of every month (or previous working day if 12th is a holiday) with a six weeks lag and compiled with data received from source agencies, which in turn receive the data from the producing
factories/ establishments.

2. For the month of March 2024, the Quick Estimates of Index of Industrial Production (IIP) with base 2011-12 stands at 159.2. The Indices of Industrial Production for the Mining,Manufacturing and Electricity sectors for the month of March 2024 stand at 156.1, 155.1
and 204.2 respectively. These Quick Estimates will undergo revision in subsequent releases as per the revision policy of IIP.

3. The IIP growth rates for the month of March 2024 over the corresponding period of previous year is 4.9 percent. The growth rates of the three sectors, Mining, Manufacturing and Electricity for the month of March 2024 over March 2023 are 1.2 percent, 5.2 percent
and 8.6 percent respectively. Within the manufacturing sector, the growth rate of the top three positive contributors to the growth of IIP for the month of March 2024 are – “Manufacture of basic metals” (7.7%), “Manufacture of pharmaceuticals, medicinal chemical and botanical products” (16.7%), and “Manufacture of other transport equipment” (25.4%).

4. The cumulative growth rate for the period of April-March 2023-24 over the corresponding period of the previous year stands at 5.8 percent. The cumulative growth rates of the three sectors, Mining, Manufacturing and Electricity for the period of April-March 2023-24 over the corresponding period of the previous year are 7.5 percent, 5.5percent and 7.1 percent respectively.

5. As per Use-based classification, the indices stand at 162.2 for Primary Goods, 130.5 for Capital Goods, 167.5 for Intermediate Goods and 194.2 for Infrastructure/ Construction Goods for the month of March 2024. Further, the indices for Consumer durables and
Consumer non-durables stand at 129.9 and 154.7 respectively for the month of March 2024.

6. The corresponding growth rates of IIP as per Use-based classification in March 2024 over March 2023 are 2.5 percent in Primary goods, 6.1 percent in Capital goods, 5.1percent in Intermediate goods, 6.9 percent in Infrastructure/ Construction Goods, 9.5 percent in Consumer durables and 4.9 percent in Consumer non-durables (Statement III).

​

RETAIL INFLATION CONTINUES TO BE IN COMFORT ZONE IN MARCH 2024 : STATISTICAL MINISTRY

DATED 12.04.2024 : According to press release of Department of Statistics , Government of India released today , retail Inflation rate as measured by Consumer Price Index ( CPI ) cooled further to 4.85 % in March 2024 against 5.09 % in February 2024 .

Food inflation also cooled to 8.52 % in March 2024 compared with 8.66 % in February 2024 . An inflation rate of 8.37 % in cereals and spices at 11.40 % is also seen .

The inflation rate is within the band of tolerance of 4 % to 6 % set by Reserve Bank of India .
​​
To read the Press Release of the ministry , CLICK HERE

INDUSTRIAL PRODUCTION GROWS 5.7 % IN FEBRUARY 2024 : STATISTICAL MINISTRY
​

DATED 12.04.2024 : According to press release of Department of Statistics , Government of India released today , Index of Industrial Production ( IIP ) grew by 5 .7 % in the month of February 2024 compared with the corresponding month of previous year ( Febr uary 2023 ) . The growth was 8.0 % in Mining , 5.0 % in Manufacturing and 7.5 % in Electricity production .

The cumulative growth in the financial year from April 2023 to February 2024 stands at 5.9 % compared with the same period previous year ( April 2022 to February 2023 ) . The growth was contributed by 8.2 % in Mining , 5.4 % in Manufacturing and 6.9 % in Electricity production .


The quick estimate of IIP with base 2011-12 stood at 148.9 for the month of February 2024 against 154.8 in Febr uary 2023 .
​
The press release reads
" The Quick Estimates of Index of Industrial Production (IIP) are released on 12th of every month (or previous working day if 12th is a holiday) with a six weeks lag and compiled with data received from source agencies, which in turn receive the data from the producing
factories/ establishments.

2. For the month of February 2024, the Quick Estimates of Index of Industrial Production (IIP) with base 2011-12 stands at 147.2. The Indices of Industrial Production for the Mining, Manufacturing and Electricity sectors for the month of February 2024 stand at 139.6, 144.5 and 187.1 respectively. These Quick Estimates will undergo revision in subsequent releases as per the revision policy of IIP.

3. As per Use-based classification, the indices stand at 148.2 for Primary Goods, 106.2 for Capital Goods, 158.9 for Intermediate Goods and 179.8 for Infrastructure/ Construction Goods for the month of February 2024. Further, the indices for Consumer durables and
Consumer non-durables stand at 121.6 and 148.9 respectively for the month of February 2024.

4. Details of Quick Estimates of the Index of Industrial Production for the month of February 2024 at Sectoral, 2-digit level of National Industrial Classification (NIC-2008) and by Use-based classification are given at Statements I, II and III respectively. Also, for users to appreciate the changes in the industrial sector, Statement IV provides month-wise indices for the last 12 months, by industry groups (as per 2-digit level of NIC-2008) and sectors.

5. Along with the Quick Estimates of IIP for the month of February 2024, the indices for January 2024 have undergone the first revision and those for November 2023 have undergone final revision in the light of the updated data received from the source agencies.
The Quick Estimates for February 2024, the first revision for January 2024 and the final revision for November 2023 have been compiled at weighted response rates of 93 percent, 95 percent and 96 percent respectively.


6. Release of the Index for March 2024 will be on Friday, 10th May 2024

To read the Press Release of the ministry , CLICK HERE

RETAIL INFLATION CONTINUES TO BE IN COMFORT ZONE IN FEBRUARY 2024 : STATISTICAL MINISTRY

DATED 13.03.2024 : According to press release of Department of Statistics , Government of India released yesterday , retail Inflation rate as measured by Consumer Price Index ( CPI ) cooled a tad to 5.09 % in February 2024 against 5.10 % in January 2024 .

But Food inflation rose to 8.66 % in February 2024 compared with 8.30 % in January 2024 . An inflation rate of 7.60 % in cereals and spices at 13.51 % is also seen .

The inflation rate is within the band of tolerance of 4 % to 6 % set by Reserve Bank of India .
​​
To read the Press Release of the ministry , CLICK HERE

INDUSTRIAL PRODUCTION GROWS 3.8 % IN JANUARY 2024 : STATISTICAL MINISTRY
​​
DATED 13.03.2024 : According to press release of Department of Statistics , Government of India released yesterday , Index of Industrial Production ( IIP ) grew by 3 .8 % in the month of January 2024 compared with the corresponding month of previous year ( January 2023 ) . The growth was 5.9 % in Mining , 3.2 % in Manufacturing and 5.6 % in Electricity production .

The cumulative growth in the financial year from April 2023 to January 2024 stands at 5.9 % compared with the same period previous year ( April 2022 to January 2023 ) . The growth was contributed by 8.3 % in Mining , 5.4 % in Manufacturing and 6.8 % in Electricity production .


The quick estimate of IIP with base 2011-12 stood at 153 for the month of January 2024 against 147.4 in January 2023 .
​
To read the Press Release of the ministry , CLICK HERE

RETAIL INFLATION CONTINUES TO BE IN COMFORT ZONE IN JANUARY 2024 : STATISTICAL MINISTRY

DATED 21.02.2024 : According to press release of Department of Statistics , Government of India released on 12.02.2024 , retail Inflation rate as measured by Consumer Price Index ( CPI ) cooled to 5.10 % in January 2024 against 5.69 % in December 2023 .

Food inflation cooled to 8.30 % in January 2024 compared with 9.53 % in December 2023 . An inflation rate of 7.83 % in cereals , Fruits at 8.65 % % and spices at 16.36 % is also seen .

The inflation rate is within the band of tolerance of 4 % to 6 % set by Reserve Bank of India .
​​
To read the Press Release of the ministry , CLICK HERE

INDUSTRIAL PRODUCTION GROWS 3.8 % IN DECEMBER 2023 : STATISTICAL MINISTRY
​

DATED 21.02.2024 : According to press release of Department of Statistics , Government of India released ON 12.02.2024 , Index of Industrial Production ( IIP ) grew by 3.8 % in the month of December 2023 compared with the corresponding month of previous year ( December 2022 ) . The growth was 5.1 % in Mining , 3.9 % in Manufacturing and 1.20 % in Electricity production .

The cumulative growth in the financial year from April 2023 to December 2023 stands at 6.10 % compared with the same period previous year ( April 2022 to December 2022 ) . The growth was contributed by 8.5 % in Mining , 5.6 % in Manufacturing and 7.0 % in Electricity production .


The quick estimate of IIP with base 2011-12 stood at 151.5 for the month of December 2023 against 145.9 in December 2022 .
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To read the Press Release of the ministry , CLICK HERE

RETAIL INFLATION RAISES , BUT CONTINUES IN COMFORT ZONE IN DECEMBER 2023 : STATISTICAL MINISTRY

DATED 12.01.2024 : According to press release of Department of Statistics , Government of India released today , retail Inflation rate as measured by Consumer Price Index ( CPI ) rose to 5.69 % in December 2023 against 5.55 % in November 2023 .

Food inflation rose to 9.53 % in December 2023 compared with 8.70 % in November 2023 . An inflation rate of 9.93 % in cereals , Fruits at 11.14 % % and spices at 19.69 % is also seen .

The inflation rate is within the band of tolerance of 4 % to 6 % set by Reserve Bank of India .
​​
To read the Press Release of the ministry , CLICK HERE