India’s industrial production growth slipped to five-month low of 1.1 per cent in March from 5.8 per cent in February 2023, primarily due to poor efficiency of energy and manufacturing sectors, in accordance to official information launched on Friday.
The earlier lowest degree of growth was recorded in October 2022 at a contraction of 4.1 per cent.
The manufacturing unit output growth measured in phrases of the Index of Industrial Production (IIP) stood at 2.2 per cent in March 2022.
As per the IIP information launched by the National Statistical Office (NSO), the manufacturing sector’s output grew 0.5 per cent in March 2023 as towards 1.4 per cent a 12 months in the past.
Power technology declined by 1.6 per cent in March 2023 towards a growth of 6.1 per cent.
Mining output rose by 6.8 per cent throughout the month beneath overview in contrast to a growth of 3.9 in the year-ago interval.
As per use-based classification, the capital items section recorded a growth of 8.1 per cent in March towards a growth of 2.4 per cent a 12 months in the past.
Consumer durables output throughout the month declined by 8.4 per cent towards a contraction of 3.1 per cent a 12 months in the past.
Consumer non-durable items output too declined by 3.1 per cent towards a contraction of 4.4 per cent earlier.
Infrastructure/development items posted a growth of 5.4 per cent in contrast to a 6.7 per cent growth in the identical interval a 12 months in the past.
The information additionally confirmed that the output of major items logged 3.3 per cent growth in the month towards 5.7 per cent in the year-ago interval.
The intermediate items output in March grew by 1 per cent in contrast to a growth of 1.8 per cent throughout the corresponding month final 12 months.
For fiscal 2022-23, the growth in IIP works out to be 5.1 per cent, down from 11.4 per cent in the previous 12 months.
