The weaker print can be attributed to a tepid manufacturing quarter, impacted by heavy rains in parts of the country and temporary disruptions linked to the GST rate rationalisation implemented in late September
Mining emerged as the best performer, rising to a 14-month high of 6 percent after contracting 7.2 percent in July. Electricity output also improved modestly, growing 4.1 percent compared with 3.7 percent in the previous month
The uptick was in contrast with the performance of the eight core industries, which together carry a 40 percent weight in the Index of Industrial Production (IIP)
This marks the third consecutive month that the eight core industries have posted growth below 2%
The HSBC Business Activity Index declined marginally to 59.3 in May from 59.7 in the previous month, mirroring a wider trend as Australia and Japan also slip
The government will release GDP data for Q4FY25 (January-March 2025) on May 30
India’s core sector output had expanded 3.1 percent in October as compared to a revised 2.4 percent in September, as four of the eight sectors recorded a faster pace of growth
Five states accounted for 55 percent of the country’s total gross value added and employment
India’s manufacturing PMI had slumped to a three-month low of 57.5 in August compared with 58.1 in the previous month, as demand had softened
Some economists have pushed their forecast for a cut to 2025
The Annual Survey Industries helps estimate the number of organised manufacturing establishments in the country and the employment, value added of these enterprises
The industrial output growth has risen to 5.9 percent in May, from 5 percent in the previous month, according to the official data released on July 12.
The share of the informal economy declined or barely increased for more industrialised states such as Maharashtra, Gujarat, and Karnataka, where formalisation may have happened faster
The committee will decide on aligning GDP with other statistics and seasonal adjustment of quarterly accounts
Telangana has emerged as the fastest-growing major state in terms of cereal output over the past decade
According to the state government estimate, sugarcane production in Karnataka is estimated to be lower at 520 lakh tonne in 2023-24, compared with 705 lakh tonne in the previous season.
This came in right after sugar prices underwent pressure after Conab’s projection stated that Brazil’s 2023-24 sugar output would climb by 4.7% YoY to about 38.8 MMT, as crops were seen recovering from the adverse weather from the previous season.
In a statement, Coal India said coking coal production has risen to 54.6 million tonnes in 2022-23, up 17.2 per cent year-on-year growth compared to 46.6 million tonnes in FY’22 (April 2021 to March 2022).
The target for the fiscal, which ended on March 31, had been fixed at 76 mt. "This is for the first time since 2018-19 when target was not only achieved but it surpassed too," CCL chairman-cum-managing director PM Prasad.
Sugar production stood at 28.45 million tonne in the same period of the 2021-22 marketing year. The sugar marketing year runs from October to September.
The government will take a call next month on allowing more quantities of sugar exports, after assessing domestic production, he said.
Sugar production in India, a major producer of the sweetener in the world, stood at 22.22 million tonne in the same period of the previous marketing year.
Earlier this week, the agriculture ministry released the first advance estimates for kharif season of 2022-23 crop year (July-June). As per the government data, rice production is likely to decline by 6 per cent to 104.99 million tonnes in the kharif season this year as against 111.76 million tonnes in kharif season of last year.
The coal production target for August was 67.94 million tonnes (MT), according to the government's monthly statistics (provisional). The coal production target for August was 67.94 million tonnes (MT), according to the government's monthly statistics (provisional).
Sequentially, the combined output rose six percent, the company said in a press release.