Industrial manufacturing grew by as a lot as 134.4 per cent in the month of April, primarily on account of a low base from final yr, authorities knowledge launched on Friday confirmed.
Factory output, as measured by the Index of Industrial Production (IIP), rose 22.4 per cent in March 2021 and had contracted by an enormous 57.3 per cent in the April month final yr as a coronavirus-induced lockdown froze financial exercise.
Manufacturing sector output, which accounts for greater than three-fourths of all the index, registered a development of 197.1 per cent as in opposition to a de-growth of (-) 66 per cent in the year-ago interval.
The authorities mentioned that the numbers aren’t corresponding to the year-ago interval as that the nationwide lockdown and different measures from the tip of March 2020, had led to a majority of the institutions not working in April 2020 and consequently.
“There were many units which reported ‘Nil’ production, affecting comparison of the indices for the months of April 2020 and April 2021.”
Similarly, mining exercise, which has a weight of over 14 per cent in the general index, noticed 37 per cent development in comparison with a 26.9 per cent contraction in the identical month final yr.
Electricity technology development stood at 38.1 per cent in April as in opposition to a fall of (-) 22.8 per cent in the final yr interval.
For the month of April 2021, the fast estimate variety of IIP with base 2011-12 stood at 126.6.
Capital items output, which is a sign for personal funding, grew over 1,000 per cent in comparability to a (-) 92.7 per cent fall in manufacturing final yr.
Again because of the low base, Consumer durables output witnessed sharpest enlargement of 1,943 per cent in April, from a fall of (-) 95.6 per cent final yr.