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India’s Factory Output Up At 5.7 Per Cent In November, When Demonetisation Drive Began
Indian workers at a heavy fabrication manufacturing factory in Vasna Buzarg village, near Ahmedabad in December 2016. (SAM PANTHAKY/AFP/Getty Images)
India's factory output showed a 5.7 per cent rise in November 2016, the first month of the government's demonetisation drive, even as retail inflation declined to 3.41 per cent in December from 3.63 per cent in the month before, official data showed on Thursday (12 January).
The factory output, as per the Index of Industrial Production (IIP), had declined by 1.81 per cent in October and a 3.4 per cent slide in the corresponding month of last year.
As per the IIP data released by the Central Statistics Office (CSO), the rise was mainly on account of a 5.5 per cent increase in manufacturing output, which also has the maximum weight in the overall index. Among the other two major sub-indices, electricity generation increased by 8.9 per cent while that for mining output was up by 3.9 per cent.
With inputs from IANS
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