HomeNewsBusinessEconomyIndia's factory output rises 3.1% in April

India's factory output rises 3.1% in April

Last month, the government revised the base year to 2011-12, replacing from 2004-05.

June 12, 2017 / 22:02 IST
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Moneycontrol News

India’s factory output grew 3.1 percent in April from 2.7 percent in March, amid revival signs. However, the rebased data set may partly explain the expansion.

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Last month, the government announced a new series, shifting the base year to 2011-12 from 2004-05, changing the weights and adding new items to reflect current consumption patterns. The change in baseline for the IIP, made by the Central Statistics Office (CSO) last month was much needed, in order to map economic activities more accurately and project realistic data.

Factory output measured by the index of industrial production (IIP) is the closest approximation for measuring economic activity in the country’s business landscape.