New Delhi: India's industrial output growth slowed marginally to 4.9 per cent month-on-month in March 2024, mainly due to poor performance of the mining sector, according to official data released on Friday.
Factory output growth, measured in terms of the Index of Industrial Production (IIP), stood at 5.6 per cent in February 2024.
However, in March 2023 it was 1.9 percent.
For fiscal year 2023-24, IIP growth reached 5.8 percent as against 5.2 percent in the previous fiscal year.
India's index of industrial production grew by 4.9 per cent in March 2024, according to a statement by the Ministry of Statistics and Program Implementation.
According to the latest data, mining output growth slowed to 1.2 percent in March, compared to 6.8 percent growth in the same month a year ago.
The growth rate of the manufacturing sector increased to 5.2 percent in March compared to 1.5 percent a year ago.
Electricity generation increased by 8.6 percent in March, whereas it declined by 1.6 percent in the same month last year.
As per use-base classification, growth of the capital goods segment in March 2024 fell to 6.1 per cent from 10 per cent in the year-ago period.
The production of consumer durables increased by 9.5 percent in March this year. It declined by 8 percent in March 2023.
The production of consumer non-durable goods grew by 4.9 per cent during the month compared to a contraction of 1.9 per cent in March 2023.
According to the data, infrastructure/construction goods registered a growth of 6.9 per cent in March 2024 as against 7.2 per cent growth in the year-ago period.
The data also showed that the production of primary goods registered a growth of 2.5 percent in March this year, which was less than 3.3 percent a year ago.
The expansion in the intermediate goods segment during the period under review was 5.1 per cent, which is higher than the 1.8 per cent recorded in the same period a year ago.
Factory output growth, measured in terms of the Index of Industrial Production (IIP), stood at 5.6 per cent in February 2024.
However, in March 2023 it was 1.9 percent.
For fiscal year 2023-24, IIP growth reached 5.8 percent as against 5.2 percent in the previous fiscal year.
India's index of industrial production grew by 4.9 per cent in March 2024, according to a statement by the Ministry of Statistics and Program Implementation.
According to the latest data, mining output growth slowed to 1.2 percent in March, compared to 6.8 percent growth in the same month a year ago.
The growth rate of the manufacturing sector increased to 5.2 percent in March compared to 1.5 percent a year ago.
Electricity generation increased by 8.6 percent in March, whereas it declined by 1.6 percent in the same month last year.
As per use-base classification, growth of the capital goods segment in March 2024 fell to 6.1 per cent from 10 per cent in the year-ago period.
The production of consumer durables increased by 9.5 percent in March this year. It declined by 8 percent in March 2023.
The production of consumer non-durable goods grew by 4.9 per cent during the month compared to a contraction of 1.9 per cent in March 2023.
According to the data, infrastructure/construction goods registered a growth of 6.9 per cent in March 2024 as against 7.2 per cent growth in the year-ago period.
The data also showed that the production of primary goods registered a growth of 2.5 percent in March this year, which was less than 3.3 percent a year ago.
The expansion in the intermediate goods segment during the period under review was 5.1 per cent, which is higher than the 1.8 per cent recorded in the same period a year ago.
