New Delhi: The Industrial Production Index (IIP) saw a steep decline of eight percent in August 2020 due to the tremendous slowdown in the mining and manufacturing sector.
According to the data released here on Monday by the Central Statistics Office, the mining sector saw a decline of 9.8 percent in August and 8.5 percent in manufacturing compared to August last year. The power sector also declined by 1.8 per cent. The special thing is that on a month-to-month basis, the industrial production index has decreased for the first time in August after April this year, ie production has decreased in August as compared to July.
