India’s factory output witnessed a contraction of (-)3.6 per cent on-year to 129.4 during the month of February, separate data released by the MoSPI showed.
According to the data, the IIP had grown 5.2 per cent in February 2020.
So far in the fiscal year 2020-21 (April-February), the industrial sector has seen a contraction of (-)11.3 per cent, compared to a 1.0 per cent growth in the corresponding period a year ago, the data showed.
The contraction in IIP during February is primarily on account of the manufacturing and mining sectors. The manufacturing sector saw a contraction of -3.7 per centon-year to 129.3 in February, while the mining sector witnessed a fall of -5.5 per cent to 116.5. The electricity sector on the other hand rose 0.1 per cent to 153.9, the MoSPI data showed.
In the corresponding month year ago, the manufacturing sector had risen of 3.8 per cent, the mining sector had witnessed a rise of 9.6 per cent and the electricity sector had gained 11.5 per cent.
