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Govt corrects IIP growth rate twice in a day!
Correcting the industrial output figures twice within span of a few hours, the government on Thursday said IIP grew at 2.3 per cent in April instead of 2 per cent reported on Wednesday.
The first correction this morning put the Index of Industrial Production (IIP) at 2.2 per cent, only to revise it yet again later in the day to 2.3 per cent.
The Ministry of Statistics and Programme Implementation cited wrong recording of production data for the electricity sector as the reason for revision.
According to official data released on Wednesday, industrial production, measured in terms of index of industrial production (IIP,) registered 2 per cent growth in April.
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Govt corrects IIP growth rate twice in a day!
An official statement earlier in the day said: "The General Index (of industrial production) for the month of April 2013 is revised upward to 167.8 from 167.3 shown in the press release (issued on Wednesday). The revised index is 2.2 per cent, higher as compared to the level in the month of April 2012."
The ministry later in the afternoon again corrected IIP growth rate figure to 2.3 per cent.
The second corrigendum also revised the power sector output growth rate upward to 4.2 per cent.
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Govt corrects IIP growth rate twice in a day!
The ministry revised the power sector growth rate to 3.4 per cent in April in the first corrigenda from 0.7 per cent in the data released on Wednesday.
"Due to wrong recording of production data for electricity sector, the Index of Industrial Production (IIP) for the electricity sector for the month of April 2013 is
corrected to 159.1 from 153.8 as shown in the press release issued on June 12, 2013 of this Ministry," said the corrigenda.