Industrial production growth remains subdued at 1.9% in March – Times of India

NEW DELHI: Industrial manufacturing development remained subdued at 1.9 per cent in March in comparison with a 12 months in the past, primarily resulting from poor efficiency by the manufacturing sector which confirmed staggered impression of the third wave of the pandemic.
Manufacturing unit output measured by way of Index of Industrial Manufacturing (IIP) had recorded a development of 24.2 per cent in March 2021, as per authorities information launched on Thursday.
The IIP growth was 1.5 per cent in January in addition to February this 12 months amid the third wave of Covid-19.
It was simply 1 per cent in November and December final 12 months. Manufacturing unit output grew by 4.2 per cent in October 2021.
As per the info launched by the ministry of statistics and programme implementation, development within the mining sector was 4 per cent in March 2022 in opposition to a development of 6.1 per cent in the identical month final 12 months.
The manufacturing sector expanded by meagre 0.9 per cent, in comparison with a development of 28.4 per cent within the year-ago interval.
Energy sector confirmed a development of 6.1 per cent in comparison with 22.5 per cent development a 12 months in the past.
For the total fiscal 2021-22, IIP grew 11.3 per cent as in opposition to an 8.4 per cent contraction in 2020-21.
Capital items output, which is a barometer of funding, confirmed a development of 0.7 per cent in March 2022 in opposition to a soar of fifty.4 per cent within the year-ago month.
The patron durables section was within the adverse zone, displaying a decline of three.2 per cent in opposition to a development of 59.9 per cent a 12 months in the past.
Nevertheless, the first items section, which accounts for almost 34 per cent of the index, expanded by 5.7 per cent in March compated to 7.9 per cent development earlier.
Intermediate items and infrastructure/building items output was within the optimistic territory, whereas client non-durable section contracted.
The ministry mentioned the expansion charges over the corresponding interval of the earlier 12 months are to be interpreted contemplating the weird circumstances on account of the pandemic since March 2020.
After recording a contraction in a number of months through the pandemic interval, IIP has remained within the optimistic territory since March 2021.

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