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India’s April industrial output jumps to 134.4% due to low-base effect

The sharp recovery in industrial output is primarily due to the low base effect, which is a result of the nationwide lockdown that hit economic activity last year. It may be noted that the factory output, measured by the Index of Industrial Production (IIP), rose 22.4 per cent in March 2020.

India’s industrial activity has jumped sharply in April 2021 due to a low-base effect. (Photo: Reuters/Representational image)

India’s industrial production in April jumped sharply to 134.4 per cent in comparison to the corresponding month a year ago, according to government data released Friday.

The sharp recovery in industrial output is primarily due to the low base effect, which is a result of the nationwide lockdown that hit economic activity last year. It may be noted that the factory output, measured by the Index of Industrial Production (IIP), rose 22.4 per cent in March 2021.

In the year-ago period, factory output contracted by a sharp 57.3 per cent due to the strict nationwide lockdown.

The manufacturing sector output registered a growth of 197.1 per cent in April 2021, compared to a contraction of 66 per cent in the year-ago period.

The government has also said that the numbers are not comparable to the figures for the year-ago period due to the impact of the nationwide lockdown last year. It said so because many units reported ‘nil’ production in April 2020.

Meanwhile, mining activity observed a growth of 37 per cent in April 2021 compared to a contraction of 26.9 per cent in the corresponding period a year ago. Electricity generation grew 38.1 per cent compared to a de-growth of 22.8 per cent in April 2020.

Government data also showed that the industrial output index rose to 126.6 in April 2021 from 54.0 in the same period last year.

Capital goods output that signals private investment registered a growth of over 1,000 per cent in comparison to a 92.7 per cent contraction in production in April 2020. The consumer durables output saw the sharpest jump of 1,943 per cent in April 2021 in comparison to a fall of -96.6 per cent last year.

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