The present day India industry records, as according to the Index of Industrial Production (IIP) or manufacturing unit output, are out. For April 2017, the IIP weight for ‘Manufacture of motor automobiles, trailers, and semi-trailers’ is ninety-five.5 that’s a fifteen.56 percent lower in comparison to 113.1 for April 2016.
The normal IIP for April 2017 stood at 117.Nine, an increase of 3.1 percentage compared to April 2016. The cumulative boom for the April-March 2016-17 over the corresponding duration of the previous year stood at five percentage.
As in line with a use-based totally category, the growth quotes in April 2017 over April 2016 for number one goods, intermediate goods, capital items and infrastructure/production items noticed an alternate of three.4 percentage, -1.Three percentage, 4.6 percentage, and five.8 percent respectively.
The Central Statistics Office (CSO) has revised the base yr for the all-India Index of Industrial Production (IIP) from 2004-05 to 2011-12. The CSO had stated, “The new base year has been decided on keeping in view the bottom year of different macroeconomic signs particularly Gross Domestic Product (GDP), Consumer Price Index (CPI). Several modifications have been made to the new collection of the IIP in order that new IIP is able to reflect the adjustments within the commercial zone in a greater representative and strong way.”
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FY2016-17 has been a curler-coaster trip for the auto industry with demonetization impacting rural and concrete income and implication of BS-IV norms. With the monsoon predicted to be ordinary across the country, and a slew of launches planned by using vehicle OEMs, the arena is positive about sales and the phase witnessing the double-digit boom. The foremost project for the industry even though continues to be to look an entire restoration from demonetization as well as the implications of the newly added Goods and Services Tax (GST) this is set to update all existing taxes
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