NEW DELHI: Industrial manufacturing growth measured in phrases of the Index of Industrial Production (IIP) declined to 4.9% in March 2024 towards 5.6% in February, as per the info launched by the Ministry of Statistics & Programme Implementation. However, it elevated by 3% year-on-year from 1.9% in March 2023.
Weak perfomance of the mining sector, which plunged to 1.2% in March 2024 from 6.8% in the identical month of the earlier 12 months is claimed to be the first purpose behind the drop in IIP.
Meanwhile, for the FY2023-24, the IIP growth elevated marginally to 5.8% from the 5.2% recorded in the earlier monetary 12 months.
Additionally, the manufacturing sector‘s growth elevated to 5.2% in March, up from 1.5% a 12 months in the past. The energy era sector rose to 8.6% in March from the 1.6% in the identical month of the final 12 months.
The capital items phase growth fell to 6.1% in March 2024 from 10% in the year-ago interval, primarily based on the use-base classification.
Consumer durables output expanded by 9.5% in March this 12 months from 8% in March 2023 whereas Consumer non-durable items manufacturing elevated by 4.9% in contrast to 1.9% in March 2023.
Further, the infrastructure/development items sector reported a growth of 6.9% in March 2024, barely decrease than the 7.2% growth in the year-ago interval.
Primary items output fell to 2.5% from 3.3% whereas the intermediate items phase rose to 5.1% March from 1.8% recorded in the identical interval a 12 months in the past.
Weak perfomance of the mining sector, which plunged to 1.2% in March 2024 from 6.8% in the identical month of the earlier 12 months is claimed to be the first purpose behind the drop in IIP.
Meanwhile, for the FY2023-24, the IIP growth elevated marginally to 5.8% from the 5.2% recorded in the earlier monetary 12 months.
Additionally, the manufacturing sector‘s growth elevated to 5.2% in March, up from 1.5% a 12 months in the past. The energy era sector rose to 8.6% in March from the 1.6% in the identical month of the final 12 months.
The capital items phase growth fell to 6.1% in March 2024 from 10% in the year-ago interval, primarily based on the use-base classification.
Consumer durables output expanded by 9.5% in March this 12 months from 8% in March 2023 whereas Consumer non-durable items manufacturing elevated by 4.9% in contrast to 1.9% in March 2023.
Further, the infrastructure/development items sector reported a growth of 6.9% in March 2024, barely decrease than the 7.2% growth in the year-ago interval.
Primary items output fell to 2.5% from 3.3% whereas the intermediate items phase rose to 5.1% March from 1.8% recorded in the identical interval a 12 months in the past.
