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Industrial Production Contracts 16.7% In March Amid Coronavirus Lockdown

Industrial Production Contracts 16.7% In March Amid Coronavirus Lockdown

March industrial manufacturing declined by 16.7 %

Industrial manufacturing for the month of March contracted by 16.7 per cent, in response to authorities knowledge launched on Tuesday. The determine comes amid the coronavirus-induced countrywide lockdown, as a consequence of which a lot of the factories and different manufacturing models 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 knowledge, manufacturing sector output fell by 20.6 per cent in comparison with a development of three.1 per cent in the identical month a yr in the past.

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

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

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

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