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Business Standard
a day ago
- Business
- Business Standard
IIP grows at 1.5% in Jun-25 as contraction in mining and electricity output weighs
Indias industrial production (IIP) growth eased to a ten-month low of 1.5% in June 2025, primarily on a sharp contraction in mining and electricity output, National Statistical Office (NSO) data showed today. However, the latest data is slightly better than 1.2% (Quick Estimate) in the month of May 2025. The growth rates of the three sectors, Mining, Manufacturing and Electricity for the month of June 2025 are - 8.7%, 3.9% and -2.6% respectively. Within the manufacturing sector, 15 out of 23 industry groups at NIC 2 digit-level have recorded a positive growth in June 2025 over June 2024. The top three positive contributors for the month of June 2025 are Manufacture of basic metals (9.6%), Manufacture of coke and refined petroleum products (4.2%) and Manufacture of fabricated metal products, except machinery and equipment (15.2%). The corresponding growth rates of IIP as per Use-based classification in June 2025 over June 2024 are -3% in Primary goods, 3.5% in Capital goods, 5.5% in Intermediate goods, 7.2% in Infrastructure/ Construction Goods, 2.9% in Consumer durables and - 0.4% in Consumer non-durables. Based on use-based classification, top three positive contributors to the growth of IIP for the month of June 2025 are Infrastructure/ construction goods, Intermediate goods and Consumer durables. NSO also revised upwards the pace of industrial production growth for May to 1.9% from the initial estimate of 1.2% released last month. During the April-June period of FY26, industrial production grew by 2% compared to 5.4% a year ago. This marked lowest expansion in the first quarter in nearly three years for the industrial activity.
Economic Times
a day ago
- Business
- Economic Times
Industrial production growth slows to 10-month low of 1.5% in June
India's industrial production growth plummeted to a 10-month low of 1.5% in June 2025, primarily due to a significant contraction in mining and electricity sectors. The early monsoon and heavy rainfall severely impacted these sectors, overshadowing a modest rise in manufacturing output. Overall, industrial production growth for Q1 FY26 was 2%. Tired of too many ads? Remove Ads India's industrial production growth slowed to a ten-month low of 1.5% in June 2025, dragged down by a sharp contraction in mining and electricity output due to the early onset of monsoon and heavy rainfall, data released by the National Statistical Office (NSO) on Monday output, as measured by the Index of Industrial Production ( IIP ), had risen by 4.9% in June 2024. The latest print is the slowest since August 2024, when IIP growth had flattened to activity shrank by 8.7% in June, a sharp reversal from the 10.3% expansion seen in the same month last year. Electricity generation too declined by 2.6%, compared with an 8.6% rise a year which forms the bulk of the IIP, offered some support as it recorded a modest rise of 3.9% in June 2025, slightly higher than the 3.5% growth seen in June NSO also revised upwards the growth rate for May 2025 to 1.9%, up from the earlier estimate of 1.2%.For the first quarter of FY26 (April-June), industrial production grew by 2%, less than half the 5.4% growth recorded during the same period last year.
Time of India
2 days ago
- Business
- Time of India
India's industrial output growth slows to 1.5% in June, lowest in 10 months; mining, power decline weigh on IIP
India's industrial output growth slipped to a 10-month low of 1.5% in June 2025, dragged down by contractions in mining and electricity production due to the early arrival of the monsoon, according to official data released by the National Statistical Office (NSO) on Monday. Tired of too many ads? go ad free now In comparison, factory output as measured by the Index of Industrial Production (IIP) had expanded 4.9% in June 2024. This marks the slowest growth since August 2024, when IIP was nearly flat, PTI reported. The NSO also revised May 2025's industrial growth upward to 1.9% from its earlier estimate of 1.2%. Among sectors, manufacturing saw a modest improvement, with output rising 3.9% in June, slightly up from 3.5% a year earlier. However, mining output contracted sharply by 8.7%, a stark reversal from 10.3% growth in June 2024. Electricity generation also shrank by 2.6%, compared to 8.6% growth in the same period last year. In the first quarter of FY26 (April–June), industrial output grew by just 2%, significantly slower than the 5.4% recorded in the same period last year.
Indian Express
5 days ago
- Business
- Indian Express
India's top 10 states with highest per capita income
India's per capita income has increased to Rs 1,14,710 in the financial year 2024-25. As per a report tabled in the Lok Sabha by Minister of State for Finance Pankaj Chaudhary, the per capita net national income (NNI) at constant prices was Rs 72,805 in 2014-15. This marks a rise of Rs 41,905 over the past decade. In a statement, Chaudhary said: 'As per the provisional estimates of GDP released by National Statistical Office, Ministry of Statistics and Programme Implementation (MoSPI), the per capita net national income (NNI) at constant prices for 2024-25 stands at ₹1,14,710. The per capita NNI at constant prices for ten years ago, that is 2014-15, was ₹72,805.' He also stated that the increase in per capita income varies across states and UTs. Elaborating further, the minister said that the differences in the increase in per capita income across states may be attributed to a range of factors such as varying levels of economic development, sectoral composition, structural disparities, and differences in governance mechanisms, among others. 'The Government has been committed to the objective of inclusive growth, as reflected in its commitment to Sabka Saath, Sabka Vikas, and has initiated several targeted schemes aimed at reducing poverty and inequality, ensuring social security, promoting income generation and livelihood opportunities, and improving the quality of life of vulnerable sections across the country,' he added. According to the available data, the top ten states/UTs in India with the highest per capita income (FY24-25) are Karnataka with Rs 2,04,605, followed by Tamil Nadu with Rs 1,96,309, Haryana with Rs 1,94,285, Telangana with Rs 1,87,912, Maharashtra with Rs 1,76,678, Himachal Pradesh with Rs 1,63,465, Uttarakhand with Rs 1,58,819, Puducherry with Rs 1,55,533, Andhra Pradesh with Rs 1,41,609, and Punjab with Rs 1,35,356. Per capita NSDP at constant prices Note: The per-capita income at constant prices for FY 2022-23 and FY 2023-24 has not been reported by Ladakh and may be treated as 'NR'. * For the years 2013-14 and 2014-15, information relates to Jammu and Kashmir and Ladakh and for the years 2023-24 and 2024-25, relates to UT of Jammu and Kashmir. NA: Not available.
Time of India
21-07-2025
- Business
- Time of India
Govt taking multi-pronged approach to sustain economic growth amid uncertainties: MoS Finance
The government has been taking a multi-pronged approach to sustain economic growth amid global uncertainties, Minister of State for Finance Pankaj Chaudhary said on Monday. "The estimate of fiscal deficit for the year 2025-26, as presented in the Union Budget 2025-26 , is at 4.4 per cent. There is no requirement felt for revision of fiscal deficit target at this stage, and neither is it considered appropriate," he said in a written reply in the Lok Sabha. The government has been taking various measures to boost economic growth in light of global challenges and uncertainties, he said. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Trekking pants for mountain sports and adventure travel Trek Kit India Shop Now Undo India's economic resilience is underpinned by strong macroeconomic fundamentals such as steady growth, price stability, credible fiscal consolidation, resilient external sector performance, robust foreign exchange reserves, a strong and well-capitalised banking sector, and robust physical and digital infrastructure, he said. Additionally, he said, India's well-regulated financial system, credible inflation-targeting regime, and flexible exchange rate contribute to the economy's resilience to shocks. Live Events In response to recent global challenges such as trade tensions, uncertain capital flows, and geopolitical risks, the government has been taking a multi-pronged approach to sustain economic growth, he said. Spelling out some of the steps taken to propel growth, he said liberalisation of FDI, bilateral engagement with countries for the finalisation of various trade agreements, credit guarantee schemes, and increased public expenditures, particularly capex. In the Union Budget 2025-26, an outlay of Rs 1.5 lakh crore has been proposed in this regard. To strengthen power sector resilience, he said the Budget also proposed incentives for electricity distribution reforms and augmentation of intra-state transmission capacity, with an additional borrowing of 0.5 per cent of gross state domestic product (GSDP) allowed for states, contingent on undertaking these reforms. Moreover, the Budget also proposed to launch a comprehensive multi-sectoral 'Rural Prosperity and Resilience' programme in partnership with states, which aims to address under-employment in agriculture, he said. Replying to another question, he said, the per capita net national income (NNI) at constant prices for 2024-25 stands at Rs 1,14,710 as per the provisional estimates of GDP released by National Statistical Office, Ministry of Statistics and Programme Implementation (MoSPI). The per capita NNI at constant prices for 10 years ago -- 2014-15 -- was Rs 72,805, he said. The differences in the increase in per capita income across states may be attributed to a range of factors such as varying levels of economic development, sectoral composition, structural disparities, and differences in governance mechanisms, among others, he said. The government has been committed to the objective of inclusive growth, as reflected in its commitment to Sabka Saath, Sabka Vikas, and has initiated several targeted schemes aimed at reducing poverty and inequality, ensuring social security, promoting income generation and livelihood opportunities, and improving the quality of life of vulnerable sections across the country, he said.
