Electricity has grown by 7.1%, while Manufacturing rises by 0.7% and Mining output increases by 3.8%

After three straight months of decline, the health of the Indian industry appears to be slowly but surely improving, as the impact of the series of rate cuts by the Reserve Bank of India (RBI) and three stimulus packages by the Government picks up pace.

Output at India’s factories, mines and power utilities grew by 1.4% in April this year as against a growth of 6.2% in the same month last year, the Central Statistical Organisation said on Friday.

The CSO revised March’s sharp contraction of 2.3% to a decline of 0.75%. With this, the revised annual growth for the year ended March 31, 2009 now stands at 2.6% versus the previous estimate of 2.4%. In the previous financial year (2007-08), the industrial output had expanded by 8.5%.

Among the three main constituents of the IIP, Electricity has done exceedingly well in April with an expansion of 7.1% (1.4%), while Manufacturing grew by 0.7% (6.7%) and Mining output rose by 3.8% (6.1%).

A small disappointment is with the Capital Goods sub-segment, which witnessed a decline of 1.3% in April, while the Intermediate Goods grew by 7.1%, and Basic Goods rose by 4.6%.

The overall Consumer Goods space shrank by 4.7%, thanks largely to a 10.47% fall in output for Non-durable Goods. In a sign of improving consumer sentiment, Consumer Durables growth came in at 16.9%.

source: Indiainfoline

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