Industrial output, as measured by IIP (Index of Industrial Production), fell 0.6% in the month of January 2021 and rose 0.4% in the month of December last year.
New Delhi, NFAPost: After hitting a 10-month low in December, India’s industrial production growth recovered to 1.3% in the month of January, according to the data released by the ministry of statistics and programme implementation (MoSPI) on Friday.
Industrial output, as measured by IIP (Index of Industrial Production), fell 0.6% in the month of January 2021 and rose just 0.4% in the month of December last year.
The mining output growth also accelerated to 2.8% during the January month as compared to a rise 2.6% in December, while manufacturing sector output grew 1.1% as against degrowth of 0.9% in the preceding month.
Meanwhile, the electricity generation growth slowed in January, rising 0.9% versus 2.8% in December. In the April-January period of the current fiscal, the IIP growth stood at 13.7% as against a contraction of 12% in the corresponding period of 2020-21.
Industrial production has been hit due to the coronavirus pandemic since March 2020, when it had contracted 18.7%. It shrank 57.3% in April 2020 due to a decline in economic activities in the wake of lockdown imposed to curb the spread of coronavirus infections.