IIP Data: The industrial production of the country has seen an increase of 1.7 percent. The Index for Industrial Production (IIP) data has been released for the month of February, according to which industrial production has grown at the rate of 1.7 percent in February, while IIP was 1.5 percent in January 2022. These figures have been released by the Ministry of Statistics.
Industrial output increased in February as compared to January. But the growth rate in the manufacturing sector has been only 0.8 percent, which is less than the 1.3 percent in January. However, there has been improvement in mining and power generation. In the mining sector, production has increased at the rate of 4.5 percent. At the same time, production in the power sector has also increased at the rate of 4.5 percent. In January 2022, electricity generation grew at a rate of only 0.9 per cent. Capital goods production grew at a rate of only 1.1 per cent. Whereas consumer durables and non-consumer durables have shown negative growth. Both the sectors have increased the rate of production by -8.2 per cent and -5.5 per cent.
However, the growth of IIP has been as expected. Core sector figures were released at the end of March. In which the growth of the core sector has been 5.8% on a year-on-year basis in February. Its growth was 4% a month ago. The total weightage of core sector in IIP is 40.3%.
There is a slight improvement in industrial production but a huge increase in retail inflation is a cause for concern. Retail inflation has reached an 18-month high of 6.95 percent in the month of March.