India’s industrial growth shoots up 134.4% in April | Economy News

India’s industrial growth shoots up 134.4% in April | Economy News


New Delhi: India`s index of industrial production (IIP) rose a whopping 134.44 per cent year-on-year to 126.6 in April due to a very low base in the same month last year, as per the data released by the Ministry of Statistics and Programme Implementation (MoSPI) on Friday. 

“For April 2021, the quick estimates of IIP, with base 2011-12, stands at 126.6,” the ministry said.IIP for the mining, manufacturing and electricity sectors for April stood at 108, 125.1 and 174, respectively. 

As per Use-based classification, the indices for primary goods stood at 126.7; 82.4 for capital goods; 137.9 for intermediate goods; and 134.8 for infrastructure/construction goods. The indices for consumer durables and consumer non-durables stood at 112.4 and 142.3, respectively, for April 2021. Also Read: PM Modi to attend outreach session of G7 summit today

The nationwide lockdown and other measures implemented to restrict the spread of COVID-19 from March-end led to most establishments not operating in April 2020 and consequently, there were many units that reported `Nil` production, affecting comparison of the indices for April 2020 and April 2021, the ministry said. 

Along with the quick estimates of IIP for April 2021, the indices for March 2021 have also undergone the first revision and those for January 2021 have undergone the final revision in the light of the updated data received from the source agencies. 

“The Quick Estimates for April 2021, the first revision for March 2021 and the final revision for January 2021 have been compiled at weighted response rates of 85 per cent, 92 per cent and 95 per cent, respectively,” it added. Also Read: Diesel follows petrol’s footsteps, breaches Rs 100 mark, check rates in your city



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