New Delhi, April 9 (IANS) Higher manufacturing and mining sector’s output accelerated the growth rate of India’s factory production by 4.5 per cent in February from 2.08 per cent reported for January 2020.
Similarly, on a year-on-year basis, the growth rate of factory output during the month under review was higher than the rise of 0.2 per cent recorded during February 2019.
“The Quick Estimates of Index of Industrial Production (IIP) with base 2011-12 for the month of February 2020 stands at 133.3, which is 4.5 per cent higher as compared to the level in the month of February 2019,” the Ministry of Statistics & Programme Implementation said.
“The cumulative growth for the period April-February 2019-20 over the corresponding period of the previous year stands at 0.9 per cent,” it added.
As per the data, the output rate of the manufacturing sector rose by 3.2 per cent in February from a YoY fall of (-) 0.3 per cent. The output of other notable sectors, such as mining and electricity generation, also increased.
The mining activity grew by 10 per cent from a YoY growth 2.2 per cent and the sub-index of electricity generation was higher by 8.1 per cent from a rise of 1.3 per cent.
Among the six use-based classification groups, the output of primary goods, which has the highest weight of 34.04, rose 7.4 per cent. The output of intermediate goods, which has the second highest weight, zoomed 22.4 per cent.
While consumer non-durables’ output was flat, the consumer durables declined (-) 6.4 per cent. Output of construction goods inched up by 0.1 per cent, and capital goods’ production receded by 9.7 per cent.
In terms of industries, 13 of the 23 industry groups in the manufacturing sector showed positive growth during the month under review as compared to the corresponding period of the previous year.
“The industry group ‘Manufacture of basic metals’ has shown the highest positive growth of 18.2 per cent followed by 8.0 per cent in ‘Manufacture of chemicals and chemical products’ and in ‘Manufacture of other non-metallic mineral products’,” the ministry said.
“On the other hand, the industry group ‘Manufacture of motor vehicles, trailers and semi-trailers’ has shown the highest negative growth of (-) 15.6 per cent followed by (-) 14.8 per cent in ‘Manufacture o f computer, electronic and optical products’ and (-) 9.9 per cent in ‘Manufacture of fabricated metal products, except machinery and equipment’,” it added.
–IANS
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