India's industrial output up 1.7% in Feb: Govt data

New Delhi: Factory production expanded by 1.7 per cent on an annual basis in February on account of improved performance by the mining and power generation sectors, as per government data released on Tuesday.

The Index of Industrial Production (IIP) had contracted by 3.2 per cent in February 2021. The growth was 1.5 per cent in January 2022.

As per the data released by the Ministry of Statistics and Programme Implementation, the growth in the mining sector was 4.5 per cent against a contraction of 4.4 per cent in February 2021.

The manufacturing sector during February 2022 expanded by 0.8 per cent, compared to a contraction of 3.4 per cent in the year-ago period.

However, growth in power generation accelerated to 4.5 per cent against a flat growth of 0.1 per cent in February 2021.

In the April-February period of the last fiscal, the IIP growth stood at 12.5 per cent against a contraction of 11.1 per cent in the corresponding period of 2020-21.

The data showed that capital goods output showed a growth of 1.1 per cent against a contraction of 4.2 per cent witnessed in February 2021.

The consumer durables segment continued to remain in the negative zone, showing a decline of 8.2 per cent against a growth of 6.6 per cent a year ago.

However, the primary goods segment, which accounts for nearly 34 per cent of the index, grew by 4.6 per cent in February as against a decline of 4.6 per cent in the year-ago month.

Intermediate goods and infrastructure/construction goods output were in positive territory, while consumer non-durable segments contracted.

The ministry said the growth rates over the corresponding period of the previous year are to be interpreted considering the unusual circumstances on account of the COVID-19 pandemic since March 2020.

After recording a contraction in several months during the pandemic period, the IIP has remained in the positive territory since March 2021.

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