New Delhi, Oct 12 (UNI) The Industrial Production Index (IIP) saw a steep decline of eight per cent in August 2020 due to the tremendous slowdown in the mining and manufacturing sector, according to the data released by the government on Monday.

The Statistics and Programme Implementation Ministry said the mining sector saw a decline of 9.8 per cent in August and 8.5 per cent in manufacturing, compared to August last year.

The power sector also declined by 1.8 per cent. On a month-to-month basis, the industrial production index has decreased for the first time in August after April this year, which means the production has decreased in August, as compared to July.

A sustained decline in IIP has been observed since April, due to the COVID-19 epidemic.

The index fell 53.31 per cent in April, 33.38 per cent in May, 15.78 per cent in June and 10.77 per cent in July, compared to a year earlier.

During the current financial year, the IIP declined by 25 per cent in the period from April to August. The manufacturing sector recorded a decline of 27.9 per cent, mining 18.2 per cent and electricity 10.4 per cent.

UNI RSA RJ 2308