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India's industrial output climbs 1.9% in March

India's industrial output climbs 1.9% in March

India's industrial output climbs 1.9% in March
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By CNBC-TV18 May 12, 2022 6:21:17 PM IST (Updated)

India's industrial production rose 1.9 percent in March 2022, according to official data released on Thursday.

India's industrial output, measured by the Index of Industrial Production (IIP) grew 1.9 percent in the month of March 2022. According to the CNBC-TV18 Poll of Economists, the forecast IIP was estimated at 2.04 percent.

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As per the data released by the National Statistical Office (NSO), the manufacturing sector's output grew 0.9 percent in March 2022. Mining output climbed 4 percent, and power generation increased 6.1 percent. The IIP had grown by 24.2 percent in March 2021.
During 2021-22, the IIP grew 11.3 percent against an 8.4 percent contraction in 2020-21. Industrial production has been hit due to the coronavirus pandemic since March 2020, when it had contracted 18.7 percent.
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It shrank 57.3 percent in April 2020 due to a decline in economic activities in the wake of the lockdown imposed to curb the spread of coronavirus infections.
Industrial output, or factory output, is the closest approximation for measuring the economic activity of the country's business landscape.
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