: IIP bounces back after lockdown; records 134 per cent jump YoY #FinanceIndia #StockMarketNEWS IIP bounces back after lockdown; records 134 per cent jump YoY New Delhi, Jun 12 (KNN) Indias index of
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IIP bounces back after lockdown; records 134 per cent jump YoY #FinanceIndia #StockMarketNEWS
IIP bounces back after lockdown; records 134 per cent jump YoY New Delhi, Jun 12 (KNN) Indias index of industrial production (IIP) rose a whopping 134.44 per cent year-on-year to 126.6 in April due to a very low base in the same month last year, said a data by the Ministry of Statistics & Programme Implementation (MoSPI).
"For April 2021, the quick estimates of IIP, with base 2011-12, stands at 126.6," the ministry said on Friday.
IIP for the mining, manufacturing and electricity sectors for April stood at 108, 125.1 and 174, respectively. As per Use-based classification, the indices for primary goods stood at 126.7; 82.4 for capital goods; 137.9 for intermediate goods; and 134.8 for infrastructure/construction goods.
Further the indices for consumer durables and consumer non-durables stood at 112.4 and 142.3, respectively, for April 2021. The nationwide lockdown and other measures implemented to restrict the spread of Covid-19 from March-end led to most establishments not operating in April 2020 and consequently, there were many units that reported Nil production, affecting comparison of the indices for April 2020 and April 2021, the data added.
Along with the quick estimates of IIP for April 2021, the indices for March 2021 have also undergone the first revision and those for January 2021 have undergone the final revision in the light of the updated data received from the source agencies, the ministry said.
"The Quick Estimates for April 2021, the first revision for March 2021 and the final revision for January 2021 have been compiled at weighted response rates of 85 per cent, 92 per cent and 95 per cent, respectively," it added.