While the continuation of government capex (both centre and states) in July led to a strong performance in steel and cement sectors, economists noted that the growth in cement and electricity sector, despite seasonal rains, indicated a progression of economic activity.
The year-on-year (YoY) growth in the index of industrial production (IIP) eased to a lower-than-expected 1.1 per cent in March 2023 from the revised 5.8 per cent in February 2023
, , unseasonal rains, base effect, IIP Growth, icra, report