Steps Narendra Modi-led government is taking to improve IIP numbers

By Newsgram Staff Writer

New Delhi – The Government has started various initiatives to arrest the decline in industrial growth trends which fell from 2.9% in 2011-12 to 1.1% in 2012-13 and further to (-) 0.1% in 2013-14, Nirmala Sitharaman, Ministry of Commerce & Industry informed Rajya.

Various steps taken by the Government like reducing the number of industries considered as defense industries requiring industrial license, increase of FDI in defense up to 49% and in railways infrastructure up to 100% and the Make in India program have all boosted production.

Apart from these measures, the government has also set up web portals to help investors. An Investor Facilitation Cell, with back end support up to the State level has also been created to facilitate things for investors.

The Index of Industrial Production, which measures industrial growth, had been in decline from 2.9% in 2011-12 to 1.1% in 2012-13 and further to (-) 0.1% in 2013-14. But it has recorded a positive growth of 2.1% during April-December 2014-2015.