Team Blitz India
NEW DELHI: India’s industrial production soared to a 16-month high in October, recording an impressive 11.7 per cent year-on-year growth in the Index of Industrial Production (IIP).
The surge, attributed to a favourable base effect, contributes to the positive outlook for the first advance estimates of the 2023-24 gross domestic product (GDP) data, set to be released on 5 January, reported Business Standard.
In contrast, November witnessed a deviation in the downward trend of retail inflation, as the Consumer Price Index (CPI) rose to a three-month high of 5.55 per cent year-on-year.
The increase was driven partly by a seasonal spike in vegetable prices.
