CEA foresees V-shaped recovery in industrial production going ahead

Makes his prediction on the basis of the number of items in the IIP basket that grew in the month of October

Chief economic advisor Krishnamurthy Subramanian has said that V-shaped recovery of economic activity continued in October, with 243 out of 407 items in the basket of the index of industrial production (IIP) growing in the month. 

"In contrast, 217 items grew on average in the pre-covid period (April 2012 to February 2020)," he tweeted. 

The corresponding number of items for September and April 2020 were 196 and 28, respectively, he pointed out. 

Also, 170 items in IIP recorded a growth of more than 10 per cent in October, while 107 items did so in January this year, he said, adding this foretells a strong and robust recovery. IIP grew by an eight-month high of 3.6 per cent in October .