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Budget News

  • Quick Estimates Show Contraction Of Nearly 35% In Industrial Production In May
  • July 10,2020  18:33
  • Ministry of Statistics & Programme Implementation stated today that for the month of May 2020, the Quick Estimates of Index of Industrial Production (IIP) with base 2011-12 stand at 88.4, marking a drop of 34.71% compared to May 2019. The Indices of Industrial Production for the Mining, Manufacturing and Electricity sectors for the month of May 2020 stand at 87.0, 82.4 and 149.6 respectively. The Quick Estimates will undergo revision in subsequent releases as per the revision policy of IIP.

    As per Use-based classification, the indices stand at 105.5 for Primary Goods, 37.1 for Capital Goods, 77.6 for Intermediate Goods and 84.1 for Infrastructure/ Construction Goods (Statement III) for the month of May 2020. Further, the indices for Consumer durables and Consumer non-durables stand at 42.2 and 132.3 respectively for the month of May 2020.

    Statements giving Quick Estimates of the Index of Industrial Production for the month of May 2020 at Sectoral, 2-digit level of National Industrial Classification (NIC-2008) and by Use-based classification are given at Statements I, II and III respectively. As mentioned in the Press Release for the IIP for April, 2020, it may not be appropriate to compare the IIP for May 2020 with those of months preceding the COVID 2019 pandemic.

    Along with the Quick Estimates of IIP for the month of May 2020, the indices for April 2020 have undergone the first revision and those for February 2020 have undergone the final revision in the light of the updated data received from the source agencies. The Quick Estimates for May 2020 have been compiled at a weighted response rate of 86%, the first revision for April 2020 at a weighted response rate of 91% and the final revision for February, 2020 at a weighted response rate of 92%.

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