India’s Industrial output rose to 5.1% in May
New Delhi, June 30: Industrial output of India stood at 5.1 per cent year-on-year in May, up from 4.9 per cent growth in April, according to Ministry of Statistics and Programme Implementation (MoSPI).
The latest quick estimates of the Index of Industrial Production (IIP) released by the Ministry show that manufacturing led the expansion with growth of 5.5 per cent, while electricity and gas supply surged 9.9 per cent.
Water supply, sewerage and waste management activities rose 5.5 per cent as well.
Mining and quarrying were lagging, contracting 1.6 per cent during the month.
The IIP’s quick estimate for May stood at 122.7, up from 116.7 in the same month last year.
Alongside the data release, MoSPI announced a key methodological shift: the IIP series will use the Output Producer Price Index (Output PPI) as its deflator.
The ministry said the change touches 234 of the 463 item groups in the IIP basket, together accounting for 36.02 per cent of the index’s overall weight.
This revised, PPI-based series replaces the earlier WPI-based IIP 2022-23 series that MoSPI had released on June 1, and is intended to offer a more accurate read on industrial activity going forward. (BVI)
