The better show in January was majorly due to improved performance of mining and manufacturing sectors, official data showed on Friday
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India’s industrial production expanded by 1.3 per cent in January on an annual basis after contracting by 0.7 per cent in December 2021, which was a 10-month low.
The better show in January was majorly due to improved performance of mining and manufacturing sectors, official data showed on Friday. The Index of Industrial Production (IIP) had contracted 0.6 per cent in January 2021.
As per the data released by the Ministry of Statistics and Programme Implementation, the growth in the mining sector was 2.8 per cent against a contraction of 2.4 per cent in January 2021.
The manufacturing sector, which makes up over three-fourths of the IIP, expanded by 1.1 per cent in January, with the figure for December being revised to a growth of 0.2 per cent from a contraction of 0.1 per cent. This was the fastest the sector has grown in three months.
However, growth in power generation decelerated to 0.9 per cent as against an expansion of 5.5 per cent in January 2021. In the April-January period of the current fiscal, the IIP growth stood at 13.7 per cent as against a contraction of 12 per cent in the corresponding period of 2020-21.
As per the use-based classification, two of the six goods — capital (a proxy for investment demand) and consumer durables — saw their output shrink in January. They contracted 1.4 per cent and 3.3 per cent, respectively, in January. Production of consumer non-durable goods, which had contracted in December, increased by 2.1 per cent.
Output of primary and intermediary goods rose slightly, while that of infrastructure goods increased by 5.4 per cent, the most in three months.
The indices stand at 136.5 for primary goods, 91.9 for capital goods, 151.1 for intermediate goods and 158.2 for infrastructure/ construction goods for the month of January 2022. The indices for consumer durables and consumer non-durables stand at 119.8 and 152.9, respectively, for the month January 2022.
For April 2021-January 2022, industrial output has clocked a growth of 13.7 per cent as against a contraction of 12.0 per cent in the corresponding period of FY21.
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