Manufacturing unit Output March: Manufacturing unit output grew 1.9 per cent in March

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 knowledge launched on Thursday.

The IIP development was 1.5 per cent in January in addition to February this yr amid the third wave of COVID-19.

It was simply 1 per cent in November and December final yr. Manufacturing unit output grew by 4.2 per cent in October 2021.

As per the information 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 yr.

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 yr in the past.

For the complete 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 leap of fifty.4 per cent within the year-ago month.

The patron durables phase was within the unfavorable zone, exhibiting a decline of three.2 per cent in opposition to a development of 59.9 per cent a yr in the past.

Nonetheless, the first items phase, 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 shopper non-durable phase contracted.

The ministry stated the expansion charges over the corresponding interval of the earlier yr are to be interpreted contemplating the bizarre circumstances on account of the pandemic since March 2020.

After recording a contraction in a number of months throughout the pandemic interval, IIP has remained within the optimistic territory since March 2021.

(With Company inputs)