India's Industrial Output Growth Slows to 3.2% in December 2024
| Key Points for Exam Preparation | Details |
|---|---|
| Why in News? | India's industrial output growth slowed to 3.2% in December 2024, down from 5% in November, due to weaker manufacturing sector performance. Electricity grew by 6.2%, while mining slowed to 2.6%. Consumer non-durables contracted by 7.6%, whereas capital goods (10.3%) and consumer durables (8.3%) showed growth. |
| Industrial Production (IIP) Growth (Dec 2024) | 3.2% (compared to 5% in November 2024) |
| Manufacturing Sector Growth | 3% (vs. 4.6% in Dec 2023) |
| Electricity Sector Growth | 6.2% (vs. 1.2% in Dec 2023) |
| Mining Sector Growth | 2.6% (vs. 5.2% in Dec 2023) |
| Capital Goods Growth | 10.3% (vs. 3.7% in Dec 2023) |
| Consumer Durables Growth | 8.3% (vs. 5.2% in Dec 2023) |
| Consumer Non-Durables Growth | -7.6% (vs. 3% in Dec 2023) |
| Cumulative IIP Growth (Apr-Dec 2024) | 4% (vs. 6.3% in Apr-Dec 2023) |
| India's Projected GDP Growth for FY 2024-25 | 6.4% (slowest in four years) |
| Factors for Slowdown | Base effects, weak corporate investment, manufacturing slowdown |