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New Delhi: Industrial production grew by 11.9 per cent in August, surpassing pre-COVID levels mainly on account of a low-base effect and good performance of manufacturing, mining and power sectors.
The manufacturing sector, which accounts for 77.63 per cent of the Index of Industrial Production (IIP), grew 9.7 per cent in August, according to data released by the National Statistical Office (NSO) on Tuesday.
Mining sector output grew 23.6 percent in August, while electricity generation increased by 16 percent.
The IIP stood at 131.1 points in August 2021, as compared to 117.2 points in the same month last year. As per NSO data, the index stood at 126.2 in August 2019.
The data showed that industrial production has surpassed the pre-pandemic level of August 2019.
IIP had declined by 7.1 per cent in August 2020.
Industrial production fell by 18.7 per cent in March last year following the COVID outbreak and remained in negative territory till August 2020.
With the resumption of economic activity, factory output grew by 1 per cent in September 2020 and by 4.5 per cent in October. In November 2020, factory output fell 1.6 per cent and then entered positive territory with a growth of 2.2 per cent in December 2020.
In January and February this year, IIP had declined by 0.6 per cent and 3.2 per cent, respectively. It rose 24.2 per cent in March.
For April, NSO prohibited the release of complete IIP data.
IIP grew by 27.6 per cent in May 2021 and 13.6 per cent in June.
In July this year, the production of the factory grew by 11.5 per cent.
The second wave of the pandemic began in mid-April this year, and several states imposed restrictions to prevent the spread of coronavirus infections.
“The growth rate for the corresponding period last year is to be interpreted in view of the unusual circumstances due to the COVID-19 pandemic from March 2020 onwards,” the NSO said in a statement.
The government had imposed a nationwide lockdown on March 25, 2020, to prevent the spread of coronavirus infection.
The manufacturing sector had registered a contraction of 7.6 per cent in August 2020. Mining sector output fell 8.7 percent in the same month.
There was a decline of 1.8 per cent in power generation in August 2020.
Production of capital goods, which is a barometer of investment, grew 19.9 per cent in August 2021. It saw a contraction of 14.4 per cent in the year-ago period.
Consumer durables manufacturing grew by 8 per cent in the month under review as against a decline of 10.2 per cent in August 2020.
Production of consumer non-durables grew 5.2 per cent in August, up from a contraction of 3 per cent in the year-ago period.
read also: Indian economy looks poised for a boom as the pace of vaccination picks up
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