IIP falls to five-month low of 2.1% in March

After rising to almost five per cent in February, the index  of  industrial production (IIP) fell to a five-month low of 2.1 per cent in March. This resulted in industrial production rising to 2.8 per cent in 2014-15 against contraction of 0.1 per cent in 2013-14.

Even as all the broader segments -- mining, manufacturing and electricity -- registered a growth in March, the consumer durables part  of manufacturing continued to show contraction. 

Industrial growth in 2014-15 was same as in 2012-13. However, the growth was lower by 0.1 percentage points in 2011-12, which was marked down by a major slowdown in overall economic growth. 

This showed that the secondary sector continued to remain sluggish in volume terms, even as overall economic  growth was estimated at 7.4 per cent in 2014-15 against 6.9 per cent in 2013-14. Overall economic growth slowed to 5.1 per cent in 2011-12.