India's IIP rises 1.7% in February: Govt data

The country's factory output (IIP) rose 1.7% in February 2022 compared to a revised estimate of 1.5% in January this year, the data published by the Ministry of Statistics and Programme Implementation on Tuesday showed.

As per the government data, the growth in the mining sector was at 4.5% in February 2022 as against a contraction of 4.4% in February 2021. The manufacturing sector expanded by 0.8% in February as compared to a contraction of 3.4% in the year-ago month.

Index of Industrial Production (IIP) is an index that details the growth of various sectors in the economy. The Eight Core Industries comprise more than 40% of the weight of items included in IIP. These are electricity, steel, refinery products, crude oil, coal, cement, natural gas, and fertilizers.

 

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