IIP Data: The industrial production of the country has seen an increase at the rate of 1.9 percent. The Index for Industrial Production (IIP) data has been released for the month of March, according to which industrial production has grown at the rate of 1.9 percent in March, while IIP was 1.7 percent in February 2022. These figures have been released by the Ministry of Statistics.
Industrial output increased in March as compared to February. But the growth rate in the manufacturing sector has been only 0.9 percent, in the mining sector, production has increased at the rate of 4 percent. At the same time, production in the power sector has also increased at the rate of 6.1 percent. Capital goods production has grown at a rate of only 0.7 per cent. Whereas consumer durables and non-consumer durables have shown negative growth. Both the sectors have increased the production rate by -3.2 per cent and -5 per cent.
However, the entire 2021-22 data has been completed along with the March IIP data. In 2021-22, IIP has grown at the rate of 11.3 per cent. Whereas in 2020-21, there was a negative growth of 8.4 percent due to the lockdown imposed due to Kovid-19.
There is a slight improvement in industrial production but a huge increase in retail inflation is a cause for concern. Retail inflation has reached 7.79 percent in the month of April.