Indian factory output growth slows to two percent in April

New Delhi, June 12 (ANI): The industrial production growth in the country has slipped to two percent in April due to the dismal performance of manufacturing, and coupled with lower output of capital goods.

According to an official data released today, 'the factory output measured in terms of Index of (IIP) had seen a contraction of 1.3 per cent in April last year'.

Meanwhile, the Index of Industrial Production growth rate for March this year has been revised to 3.4 per cent from the provisional estimates of 2.5 percent released last month.

The industrial growth in 2012-13 has also been revised slightly upwards to 1.1 percent from provisional estimates of one percent released in May. IIP growth in 2011-12 was 2.9 per cent.

Manufacturing sector, which constitutes over 75 per cent of the index, grew by meagre 2.8 percent in April against a decline in the output by 1.8 per cent in the year-ago month.

Power generation grew by just 0.7 percent in April this year compared to a growth of 4.6 per cent in same month last year.

The mining sector output contracted by 3 percent in April this year compared to a decline in the production by 2.8 percent in April 2012. The capital goods output saw a growth of just one per cent in April this year.

Overall, 13 out of the 22 industry groups in manufacturing sector have shown positive growth during April. (ANI)

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