“For the month of January 2021, the Fast Estimates of Index of Industrial Manufacturing (IIP) with base 2011-12 stands at 135.2. The Indices of Industrial Manufacturing for the Mining, Manufacturing and Electrical energy sectors for the month of January 2021 stand at 119.7, 135.1 and 164.2 respectively” the ministry mentioned in a launch.
Electrical energy sector output grew 5.5 per cent in January, whereas manufacturing contracted by 2.0 per cent growth. Likewise, mining output additionally contracted by 3.7 per cent.
For April-January, IIP contracted 12.2 per cent year-on-year in comparison with 0.5 per cent development within the year-ago interval.
Industrial output was hit onerous by pandemic and lockdown imposed to curb the unfold of infections. Consquently, IIP contracted for 5 consecutive months from April to August in 2021-22, earlier than making a comeback to optimistic territory in September and October.
In the meantime, inflation in food basket nearly doubled to three.87 per cent in February as in comparison with 1.96 per cent recorded within the earlier month.
Most significantly, the inflation fee stayed inside the central financial institution’s goal of 2-6 p.c for the third consecutive month.