Quick Summary
The release of quick estimates of Index of Industrial Production (IIP) for the month of September, 2021 shows a sustained increase in industrial production. The IIP, in FY 2021-22, has grown from an average of 121.3 in Q1 to 130.2 in Q2. The IIP in Q2 would have been still higher but for heavy monsoons disrupting mining activity, especially coal and consequently electricity generation, that repressed the growth of overall production index. The manufacturing index in IIP has held steady and is
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FAQ :
Industrial production showed a sustained increase, with the Index of Industrial Production (IIP) growing from an average of 121.3 in Q1 to 130.2 in Q2 of FY 2021-22.
Consumer price inflation gradually declined throughout FY 2021-22, falling from 5.6 per cent in Q1 to 5.1 per cent in Q2, and further to 4.5 per cent by October.
The Purchasing Manager's Index (PMI) for services accelerated to a decadal high of 58.4 in October 2021, and average hotel occupancy rates rose from 55% in Q1 to over 60% in Q2.
Yes, exports have emerged as a key growth driver, crossing $30 billion for the seventh consecutive month in October 2021, with cumulative exports up 54.5% over the same period in 2019.
The steady rise in outstanding credit, particularly retail credit, suggests strengthening consumption within the economy, supported by a 54% increase in CIBIL inquiry volumes between February and October 2021.
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