SME Times is powered by   
Search News
Just in:   • Adani Group to invest Rs 57,575 crore in Odisha  • 'Dollar Distancing' finally happening? Time for India to pitch Rupee as credible alternative: SBI Ecowrap  • 49% Indian startups now from tier 2, 3 cities: Jitendra Singh  • 'India ranks 3rd in global startup ecosystem & number of unicorns'  • LinkedIn lays off entire global events marketing team: Report 
Last updated: 10 Jul, 2020  

Industry.9.4.Thmb.jpg Industrial output picks up in May

Industry.9.4.jpg
   Top Stories
» 49% Indian startups now from tier 2, 3 cities: Jitendra Singh
» 'India ranks 3rd in global startup ecosystem & number of unicorns'
» Tripura exported over 9K tonnes of pineapples in 2 years
» CPI inflation eases to 6.71% in July, IIP falls to 12.3%
» Rupee depreciates 12 paise to close at 79.64 against US dollar
SME Times News Bureau | 10 Jul, 2020

Even though India's May factory output showed a graded pick-up, the country's industrial activity still remained in the doldrums.

As per the Quick Estimates of Index of Industrial Production (IIP), on one hand, industrial activity picked up pace in May from April but was far too slow when compared with the like period of last year.

On a sequential basis, the Quick Estimates of Index of Industrial Production (IIP) for the month of May 2020 stood at 88.4 (index reading) as compared t o 53.6 for April 2020, indicating a graded pickup in industrial activity.

However, on a year-on-year basis, the rate of factory output during the month under review was far lower than the level recorded during May 2019.

As per the data, the IIP had recorded an index reading of 135.4 in May, 2019 -20 (-34.71 per cent).

The estimates documents released by the Ministry of Statistics & Programme Implementation said that current indices should not be compared with that of months preceding the Covid-2019 pandemic.

"In view of the preventive measures and announcement of nationwide lockdown by the government to contain spread of COVID-19 pandemic, majority of the industrial sector establishments were not operating from the end of March, 2020 onwards. This has had an impact on the items being produced by the establishments during the period of lockdown and the subsequent periods of conditional relaxations in restrictions," the statement said.

"The number of units responding has improved in May 2020 as compared to the earlier months of lockdown. The weighted response rate at time of QE of April 2020 was 87 per cent which is now revised upwards to 91 per cent at first revision."

 
Print the Page
Add to Favorite
 
Share this on :
 

Please comment on this story:
 
Subject :
Message:
(Maximum 1500 characters)  Characters left 1500
Your name:
 

 
  Customs Exchange Rates
Currency Import Export
US Dollar
66.20
64.50
UK Pound
87.50
84.65
Euro
78.25
75.65
Japanese Yen 58.85 56.85
As on 13 Aug, 2022
  Daily Poll
PM Modi's recent US visit to redefine India-US bilateral relations
 Yes
 No
 Can't say
  Commented Stories
» GIC Re's revenue from obligatory cession threatened(1)
 
 
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter