India’s industrial production expanded at a slower pace of 4.9 per cent in April due to tepid growth in the energy sector amid the West Asia crisis, according to official data released on Monday. This is the first data released after the revision in base year to 2022-23. The factory output, measured in terms of the Index of Industrial Production (IIP), expanded by 5.7 per cent in April 2025.
The growth rates of the four sectors, mining & quarrying, manufacturing, electricity & gas supply, water supply, sewerage & waste management, for April 2026 stood at (-) 5.1 per cent, 6.2 per cent, 4.9 per cent and 6.6 per cent, respectively. The quick estimate of IIP stands at 118.9 against 113.1 in April 2025.
The Ministry of Statistics & Programme Implementation (MoSPI) has revised the base year of the Index of Industrial Production (IIP) from 2011-12 to 2022-23. The revised basket consists of 1,042 products mapped to 463 item groups, including 120 new item groups.
The base year revision exercise was undertaken under the aegis of the Technical Advisory Committee for Base Year Revision of the All India Index of Industrial Production (TAC-IIP). The committee's report was released on May 25, 2026, laying the foundation for a more robust, relevant, and comprehensive measure of industrial production in India. This is the 10th revision of the base year for IIP. The first IIP was prepared with a base year 1937.
Exports logs double digit growth
The country's exports have recorded a double-digit growth during April-May 2026-27. The Commerce Ministry will release the trade data for May on June 15. “During the two months, exports are in double-digit growth,” an official said.
Exports rose by 13.78 per cent to USD 43.56 billion in April, the highest monthly outbound shipments in more than four years, driven by petroleum products amid a surge in crude oil prices, but the trade deficit widened to a three-month high of USD 28.38 billion due to an uptick in imports.
The official also said that the commerce ministry will be hiring 1,000 people from across the country to disseminate information about free trade agreements being finalised by India.
Govt achieves fiscal deficit target of 4.4 pc
The government has achieved its fiscal deficit target of 4.4 per cent of the GDP for 2025-26, according to the data released by the Controller General of Accounts on Monday.
The fiscal deficit for the previous financial year was estimated to be at Rs 15,68,936 crore, which was revised down to Rs 15,58,492 crore, as presented to Parliament in February by Finance Minister Nirmala Sitharaman.
As per the CGA data, the government managed to collect Rs 33.42 lakh crore revenue, or 98.8 per cent of the revised Budget Estimates (RE). The central government’s expenditure during 2025-26 was Rs 49.64 lakh crore, or 98.8 per cent of the RE. The government’s fiscal deficit for 2024-25 was 4.8 per cent of the GDP.
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