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IIP grows 22.4% in March, April retail inflation eases to 4.29%

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While industrial output as measured by the Index of Industrial Production (IIP) grew 22.4 percent in the month of March 2021 as compared to 16.7 percent in the year-ago period.

India's retail inflation as measured by the Consumer Price Index (CPI) slowed to 4.29 percent in the month of April from 5.52 percent in March, mainly due to easing food prices, government data showed on Wednesday.
As per the data released by the ministry of Statistics and Programme Implementation, inflation in the food basket was 2.02 percent in April, down from 4.87 percent in the preceding month.
While industrial output as measured by the Index of Industrial Production (IIP) grew 22.4 percent in the month of March 2021 as compared to 16.7 percent in the year-ago period. Industrial output, or factory output, is the closest approximation for measuring the economic activity of the country's business landscape.
According to data released by the National Statistics Office (NSO), the manufacturing sector output surged 25.8 percent in March 2021. Mining output climbed 6.1 percent and power generation increased by 22.5 percent in March. The IIP had shrunk by 18.7 percent in March 2020.
During 2020-21, IIP contracted 8.6 percent compared to 0.8 percent contraction in 2019-20. Industrial production has been hit due to the COVID-19 pandemic since March last year when it contracted by 18.7 percent. The IIP had registered a growth of 5.2 percent in February last year.
According to the CNBC-TV18 poll of economists, the forecast CPI was estimated at 4.39 percent and March IIP was pegged at 16.55 percent.
(This is a developing story. Check back for more details)
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