Factory output grew 1.9 per cent in March

Index of Industrial Production which measures factory output in the country rose by 1.9 per cent in March, slightly above the revised 1.5 per cent in February.

The core sector which forms around 40 per cent of the IIP index had slowed to 4.3 per cent in March.

The IIP for the entire fiscal grew by 11.3 per cent which comes on a low base as the factory output had contracted by more than 8 per cent in the previous fiscal.

Manufacturing in March grew by just 0.9 per cent while electricity and mining rose by 6.1 per cent and 4 per cent respectively.

According to the use-based classification, the contraction in durables and non-durables is a worrying scenario as it directly chips away at the consumer spending, a key driver of India’s economic growth.

The capital goods sector, a key indicator of investment in the economy, has also slowed to a tepid 0.7 per cent in March.

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