Showing a green shoot in the economy, the industrial output as recorded by Index of Industrial Production (IIP) has touched a nine month high growth rate of 4.3% in the August month as per the data released by Central Statistical Office, Ministry of Statistics and Programme Implementation.
Manufacturing, which accounts for more than three-fourths of the IIP, recovered to 3.1 per cent in August from a contraction of 0.2 per cent in July, Bureaucracy Today has learnt.
Electricity and mining helped boost IIP growth in August. While mining rose 9.4 per cent, electricity expanded 8.3 per cent.
Economic experts have attributed the sharp rise to re-stocking after the GST implementation and the upcoming festive season. Notably, IIP grew by a mere 0.9% in the month of July.