Industrial growth slips to 3.1% in May

India’s industrial output growth slipped to 3.1 per cent in May mainly on account of subdued performance of mining and manufacturing sector, according to government data released on Friday.

The Index of Industrial Production (IIP) had expanded by 3.8 per cent in May 2018. The index grew at 4.3 per cent in April and 0.4 per cent in March this year.

The expansion in the mining sector was merely 3.2 per cent in May, as compared to 5.8 per cent in the year-ago month.

Similarly, the growth in the manufacturing sector was also subdued at 2.5 per cent in May, compared to 3.6 per cent in the corresponding month of the last fiscal.

However, the power generation grew at 7.4 per cent in May, against 4.2 per cent in same month last year.