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regular-article-logo Sunday, 26 May 2024

India’s industrial output up 1.7 per cent

The manufacturing sector expanded by 0.8 per cent in February compared with a contraction of 3.4 per cent in the year-ago month

Our Special Correspondent New Delhi Published 13.04.22, 02:09 AM
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The index of Industrial production (IIP), rose 1.7 per cent in February compared with a 3.2 per cent contraction a year ago, mainly on account of an improved performance of the mining and electricity sectors.

The industry index grew 1.5 per cent in January and 0.7 per cent in December 2021.

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As per government data, the growth in the mining sector was at 4.5 per cent in February 2022 against a contraction of 4.4 per cent in February 2021.

The manufacturing sector expanded by 0.8 per cent in February compared with a contraction of 3.4 per cent in the year-ago month.

Growth in power generation was 4.5 per cent in February against an expansion of 0.1 per cent a year ago.

Primary goods output rose 4.6 per cent, while capital goods increased 1.1 per cent.

Consumer durables fell 8.2 per cent and consumer non-durables output fell 5.5 per cent over a year ago

“Successive monthly data of industrial output is making it abundantly clear that consumption demand will need policy makers attention much more than hitherto being given” Sunil Sinha of India Ratings said.

If recovery is to become a meaningful and sustainable one. Also, the continued weakness in capital goods does not augur well. Even the indications that finally private corporate investment is picking up are expected to face headwinds from the Russia-Ukraine conflict.”

As per government data, the growth in the mining sector was at 4.5 per cent in February 2022 as against a contraction of 4.4 per cent in February 2021. The manufacturing sector expanded by 0.8 per cent in February as compared to a contraction of 3.4 per cent in the year-ago month.

Growth in power generation was at 4.5 per cent during February 2022 as against an expansion of 0.1 per cent in the same month of the previous fiscal.

Data showed primary goods output rose 4.6% over a year ago; Capital goods output rose 1.1% over a year ago. Intermediate goods output rose 4.3% over a year ago. Infrastructure and construction goods output rose 9.4% over a year ago. Consumer durables output fell 8.2% over a year ago and consumer non-durables output fell 5.5% over a year ago.

Cumulatively, IIP growth in April-February period was at 12.5 per cent as against a contraction of 11.1 per cent in the same period a year ago. The industrial activity saw widespread disruptions in the financial year 2020-21 due to the coronavirus pandemic.

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