May industrial output rises on base effect

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SME Times News Bureau | 12 Jul, 2021
Low base effect on a year-on-year basis pushed India's industrial output higher by 29.3 per cent, but the production growth rate was slower sequentially.

The Index of Industrial Production (IIP) for May rose by over 29 per cent from a decline of 33.4 per cent reported for the like month a year ago.

However, the production rate was lower than the exponential growth of over 130 per cent seen for April.

In April, the IIP index reading stood at 126.7 as against May's 116.6.

The YoY and sequential growth rate movements are being effected by the different types of lockdowns imposed during 2020 and 2021.

Last year, while the country observed a full-fledged lockdown, the same was partially imposed across different regions of the country.

"For the month of May 2021, the 'Quick Estimates of Index of Industrial Production' (IIP) with base 2011-12 stands at 116.6," the Ministry of Statistics and Programme Implementation said.

"The Indices of Industrial Production for the 'Mining, Manufacturing and Electricity' sectors for the month of May 2021 stand at 108, 113.5 and 161.9, respectively."