Industrial Production Contracts 16.7% In March Amid Coronavirus Lockdown

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March industrial manufacturing declined by 16.7 %

Industrial manufacturing for the month of March contracted by 16.7 per cent, in response to authorities information launched on Tuesday. The determine comes amid the coronavirus-induced countrywide lockdown, attributable to which a lot of the factories and different manufacturing items are but to renew functioning. Meanwhile, industrial manufacturing had grown by 2.7 per cent in the identical month final yr.

According to Ministry of Statistics & Programme Implementation information, manufacturing sector output fell by 20.6 per cent in comparison with a progress of three.1 per cent in the identical month a yr in the past.

Electricity era fell by 6.eight per cent as towards a progress of two.2 % in March 2019.

Mining sector output remained flat in comparison with a progress of 0.eight % earlier.

The IIP within the final fiscal contracted by 0.7 per cent from 3.eight per cent enlargement within the 2018-19.

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