Industrial output rises 2.5 percent in March

New Delhi  :  India’s industrial output grew by 2.5 percent in March, as against a contraction of 2.8 percent in the corresponding month of 2012, government data showed Friday.

According to data from the Central Statistical Office (CSO), the index of industrial production (IIP) logged a meagre 0.6 percent growth year-on-year in February. IIP grew by 2.4 percent in January.

On a consolidated basis, IIP grew by just one percent in the April-March period of 2012-13, from a growth of 2.9 percent in the corresponding period of 2011-12.

The monthly growth in IIP came on the back of healthy performance of manufacturing and electricity sectors. But the mining sector decelerated.

Manufacturing production registered a growth of 3.2 percent during the month under review from a deceleration of 3.6 percent in the corresponding month last year. In February, the sector registered a growth of 2.2 percent.

On a cumulative basis for April-March 2012-13, manufacturing output stood at 1.2 percent, from a growth of 3 percent in the like period of 2011-12.

The electricity sector too fared well, with a growth of 3.5 percent, from an increase of 2.7 percent in March 2012. In February, the sector did not fare well, falling 3.2 percent from a healthy increase of eight percent in the corresponding period of 2012.

Cumulatively, the sector’s output increased by 4 percent from a healthy 8.2 percent during the corresponding period of 2011-12.

However, mining output in March declined by 2.9 percent from a deceleration of 1.1 percent in the corresponding month last year. Mining output in February had declined by a massive 8.1 percent from an increase of 2.3 percent in the corresponding month of last year.

Cumulative mining production was in the negative. The output during April-March 2012-13 stood at a decline of 2.5 percent from a negative 1.9 percent.

Segment-wise growth was witnessed in cigarettes (28.4 percent), woollen carpets (83.1 percent), apparel (175 percent), leather garments (49.9 percent), aviation turbine fuel (33.1 percent) air conditioner-room (37.9 percent), conductor, aluminium (45.00 percent) and cable, rubber insulated (247.3 percent).

Segment-wise, high negative growth was reported in synthetic yarn (-24.8 percent), razor blades (-29.4 percent), heat exchangers (-27.2 percent), sugar machinery (-64.6 percent), plastic machinery (-22.5 percent) and ship building and repairs (-30.3 percent).