IIP growth for FY13 at 20-year low; rises to 5-month high in Mar
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.
Overall, 10 of the 22 industry groups in manufacturing sector have shown positive growth during March.
The mining output in March this year contracted by 2.9 percent, compared to a decline of 1.1 percent in the same month of 2012.
During 2012-13, the production in the sector showed a decline of 2.5 percent, against contraction of 1.9 percent in 2011-12.
The consumer goods output also saw a meagre growth of 1.6 percent in March, compared to 1.1 percent in same month last year. In 2012-13, the growth in the segment was 2.4 percent compared to 4.4 percent in the previous fiscal.
The decline in the output of consumer durables stood at 4.5 percent in March, compared to a growth of 1.2 percent in the same month of 2012. The growth in the output of these goods stood at 2.1 percent in 2012-13 compared to 2.6 percent in previous fiscal.
The consumer non-durables output grew by 6.5 percent in March from one per cent in the same month last year. This segment's growth was at 2.7 percent in 2012-13 as against 5.9 percent in the previous fiscal.
The intermediate goods production also saw a decline of 0.2 percent in March, compared to a flat output in the same month last year. In 2012-13, the segment recorded a growth of 1.2 percent, compared to a contraction of 0.6 percent in 2011-12.
The basic goods output grew by 2.6 percent in March compared to a growth of 1.1 percent in the same month last year.
During 2012-13, the production of basic goods grew by 2.3 percent, compared to a growth of 5.5 percent in the previous fiscal.