Industrial growth at 6-month high of 3.4 pc in April

Industrial production grew at a six-month high of 3.4 per cent in April mainly on account of improvement in mining and power generation, according to official data released Wednesday. The Index of Industrial Production (IIP) had expanded by 4.5 per cent in April 2018.

The expansion in the mining sector was 5.1 per cent compared to 3.8 per cent in the year-ago month. Similarly, the growth in the power sector was 6 per cent in April as against 2.1 per cent in the corresponding month of the last fiscal.

However, there was a slowdown in the manufacturing sector. The previous high in industrial growth was recorded at 8.4 per cent in October 2018.