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Industrial output growth slows to 3.1%
Industrial production growth slipped to 3.1 per cent in April due to poor show by manufacturing, mining and power sectors coupled with lower offtake of capital goods and consumer durables.The factory output measured in terms of the index of industrial production (IIP) had expanded by 6.5 per cent in April last year, the data released by the Central Statistics Office (CSO) today showed.
New Delhi : Industrial production growth slipped to 3.1 per cent in April due to poor show by manufacturing, mining and power sectors coupled with lower offtake of capital goods and consumer durables.The factory output measured in terms of the index of industrial production (IIP) had expanded by 6.5 per cent in April last year, the data released by the Central Statistics Office (CSO) today showed.
The CSO also revised upwards the IIP growth figure for March to 3.75 per cent from provisional estimate of 2.7 per cent released last month. According to the CSO data, manufacturing sector, which constitutes 77.63 per cent of the index, grew at 2.6 per cent in April compared to 5.5 per cent in same month last year.
Similarly, mining sector output grew at 4.2 per cent in the month under review compared to 6.7 year ago. Power generation rose by 5.4 per cent in April, down from 14.4 per cent expansion in April last year. The output of capital goods, which are the barometer of investment in the country, contracted by 1.3 per cent in April.
