New Delhi: Several indicators had pointed to the pace of recovery, including PMI Manufacturing survey and GST receipts. effect of war Ukraine And the breakdown of supply chains has created huge price pressures, which will have an impact on growth and the manufacturing sector going forward. But economists were surprised by the resilience of the sector, though they pointed to weak spots that still needed to be looked at in the manufacturing sector.
The manufacturing sector grew 6.3% year-on-year in April, up from 1.4% in March and the power sector grew by 11.8% compared to 6.1% growth in the previous month.
“When compared with the pre-Covid level of April 2019, IIP It was 6.8% higher in April 2022, with double-digit growth in intermediate, infrastructure and primary goods, amid a flat performance in consumer non-durables and an unmatched contraction in capital goods and consumer durables,” it said. Aditi NayariChief Economist at Rating Agency ICRA, He added that consumption as a whole remains temporary, with underlying inequality.
The manufacturing sector grew 6.3% year-on-year in April, up from 1.4% in March and the power sector grew by 11.8% compared to 6.1% growth in the previous month.
“When compared with the pre-Covid level of April 2019, IIP It was 6.8% higher in April 2022, with double-digit growth in intermediate, infrastructure and primary goods, amid a flat performance in consumer non-durables and an unmatched contraction in capital goods and consumer durables,” it said. Aditi NayariChief Economist at Rating Agency ICRA, He added that consumption as a whole remains temporary, with underlying inequality.