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IIP growth rebounds to 2.5% in Mar, grows a tad 1% in FY13

This article was posted on May 10, 2013 and is filed under Market News

New Delhi: Showing signs of recovery, India’s industrial production growth rate bounced back to 2.5 percent in March on better performance of manufacturing and power sectors coupled with higher output of capital goods.

Industrial production had seen a contraction of 2.8 per cent in March last year.

However, the factory output measured in term of index of industrial production (IIP) grew by just one per cent in 2012-13 compared to a growth of 2.9 percent in previous fiscal, according to official data released here Friday.

Meanwhile, the growth in the industrial output for February has been slightly revised downwards to 0.46 per cent from the provisional estimates of 0.6 per cent released last month.

The manufacturing sector, which constitutes over 75 percent of the index, grew by 3.2 percent in March as against a decline in output by 3.6 percent in the same month of 2012.

However in 2012-13, the growth in output of the key sector remained low at 1.2 percent as against 3 percent in 2011-12.

Power generation grew by 3.5 percent in March this year compared to a growth of 2.7 percent in same month last year.

During 2012-13, electricity generation had gone up by 4 percent against 8.2 percent in 2011-12.

The capital goods output saw a growth of 6.9 percent in March this year compared to a decline in production by 20.1 percent in the same month of 2012.

During the entire last fiscal, the capital goods production declined by 6.3 percent compared to a contraction of 4 percent in 2011-12.

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