India’s factory output falls by 0.8% in April | business | Hindustan Times
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India’s factory output falls by 0.8% in April

In a rather disappointing start to this fiscal year, India’s factory output fell 0.8 per cent in April against a marginal growth of 0.30 percent in the month before, official data showed on Friday.

business Updated: Jun 12, 2016 09:15 IST
Factory output

Employees work inside a steel factory in Agartala.(REUTERS)

In a rather disappointing start to this fiscal year, India’s factory output fell 0.8% in April against a marginal growth of 0.30% in the month before, official data showed on Friday.

As per data on Index of Industrial Production (IIP) released by the Central Statistics Office (CSO), the fall was mainly on account of a 3.1% drop in manufacturing output, which also has the maximum weight in the overall index.

Among the other two major sub-indices, while the one for electricity generation rose a robust 14.6%, that for mining expanded by just 1.4%.

In the past six months, the general index has taken a drop on four occasions, while growing by a mere 2% in February and 0.3% in March. The last robust growth, which had surprised stakeholders, was in October last year, when the general index rose 9.87%.