2.2 C
London
Thursday, January 20, 2022

Industrial production grew 13.6 percent in June, but still below pre-pandemic levels

- Advertisement -spot_imgspot_img
- Advertisement -

Representative Image

New Delhi: The country’s industrial output grew by 13.6 percent in June 2021. This is because of weak comparative base of last year and better performance of manufacturing, mining and power sectors. However, production is still below pre-pandemic levels.

Production in the manufacturing sector grew by 13 per cent in June 2021, according to the Index of Industrial Production (II) data released by the National Statistical Office (NSO) on Thursday. The share of manufacturing sector in IIP is 77.6 percent. Mining production grew by 23.1 percent and electricity generation by 8.3 percent in the month under review.

read also

According to NSO data, the IIP in June 2021 stood at 122.6 points as against 107.9 points in the same month last year. The index stood at 129.3 points in June 2019. According to the data, industrial production has improved but it is still below what it was in June 2019, before the pandemic. IIP had declined by 16.6 per cent in June 2020. Industrial production declined by 18.7 per cent in March last year due to the COVID-19 pandemic and remained in the negative zone till August 2020.

Industrial production grew by one per cent in September and 4.5 per cent in October as economic activity resumed. Industrial production declined by 1.6 percent in November 2020, while it again increased by 2.2 percent in December 2020. IIP declined by 0.6 per cent in January and by 3.2 per cent in February. At the same time, it increased by 24.2 percent in March.

NSO did not release full data for the month of April. It increased by 28.6 percent in May this year. The second wave of the pandemic began in mid-April this year and several states imposed restrictions to contain the spread.

“In view of the unusual circumstances due to the COVID-19 pandemic from March 2020, the growth rate for the corresponding period last year should be analyzed taking into account the same,” the NSO said in the statement. The government had imposed a nationwide lockdown from March 25, 2020, to prevent the corona virus epidemic. The manufacturing sector had declined by 17 per cent in June last year. In the mining sector, there was a decline of 19.5 percent and power generation by 10 percent in June 2020.

Production of capital goods, considered a mirror of investment, grew by 25.7 per cent in June 2021 as against a decline of 37.4 per cent in the same month a year ago. The consumer durables manufacturing sector grew by 30.1 per cent in the month under review as against a decline of 34.8 per cent in June 2020. Production of non-consumer durable goods declined by 4.5 per cent in June 2021, compared to an increase of 6.9 per cent in the same month a year ago.(agency)

- Advertisement -
Bhagyashree Soni
Bhagyashree Soni is a software engineer with soft writing skills. She is a degree holder from the International School of Entrepreneurial Leadership. She has been a state-level badminton champion and chess player. A woman with a forthright attitude enjoys her writing passion as her chosen career. Writing in the context of feminism, social-cause and entreprenurship is her forte.
Latest news
- Advertisement -spot_img
Related news
- Advertisement -spot_img

LEAVE A REPLY

Please enter your comment!
Please enter your name here