India’s industrial output slows to 2% in April
New Delhi: The industrial production growth has slipped to 2 percent in April on account of dismal performance of manufacturing, mining and power sectors coupled with lower output of capital goods.
The factory output measured in terms of index of industrial production (IIP) had seen a contraction of 1.3 percent in April last year, according to official data released here today.
Meanwhile, the IIP growth rate for March this year has been revised to 3.4 percent from the provisional estimates of 2.5 percent released last month.
The industrial growth in 2012-13 has also been revised slightly upwards to 1.1 percent from provisional estimates of 1 percent released in May. IIP growth in 2011-12 was 2.9 percent.
Manufacturing sector, which constitutes over 75 percent of the index, grew by meagre 2.8 percent in April against a decline in the output by 1.8 percent in the year-ago month.
Power generation grew by just 0.7 percent in April this year compared to a growth of 4.6 percent in same month last year.
The mining sector output contracted by 3 percent in April this year compared to a decline in the production by 2.8 percent in April 2012.
The capital goods output saw a growth of just one percent in April this year compared to a decline in production by 21.5 percent in the year-ago period.
Overall, 13 out of the 22 industry groups in manufacturing sector have shown positive growth during April.
The consumer goods output also saw a meagre growth of 2.8 percent in April, compared to 3.7 percent in same month last year.
The decline in the output of consumer durables stood at 8.3 percent in April, from a growth of 5.4 percent in the same month of 2012.
The consumer non-durables output grew by 12.3 percent in April against 2.3 percent in April last year.
The intermediate goods production grew by 2.4 percent in April, compared to a decline in output by 1.8 percent in year-ago period.
The basic goods output grew by 1.3 percent in the reported month from 1.9 percent in April 2012.