|
|
|
Base effect, heavy rains ease Sept industrial output growth
|
|
|
|
Top Stories |
|
|
|
|
SME Times News Bureau | 13 Nov, 2021
Base effect, along with heavy rains and semiconduct or shortages slowed
India's industrial output growth to 3.1 per cent in September, on a
sequential basis.
Accordingly, the rise in Index of Industrial
Production (IIP) for September eased to 3.1 per cent from 12.03 per cent
in August 2021.
However, on a year-on-year basis, the September
out up showed an accelerating trend from a growth of just 1 per cent
reported for the corresponding period of the previous fiscal.
"For
the month of September 2021, the 'Quick Estimates of Index of
Industrial Production' (IIP) with base 2011-12 stands at 127.9," the
Ministry of Statistics and Programme Implementation said.
"The
'Indices of Industrial Production for the Mining, Manufacturing and
Electricity' sectors for the month of September 2021 stand at 95.1,129.9
and 167.9 respectively."
Among the major use-based segments, the
September data, on a YoY basis, showed that manufacturing of primary
goods grew by 4.6 per cent from (-) 1.5 per cent, while capital goods
production rose 1.3 per cent from (-) 1.2 per cent, and intermediate
goods increased by 4.9 per cent from (-) 0.4 per cent.
The production of infrastructure or construction goods grew by 7.4 per cent from 4 per cent.
However,
consumer durables' production degrew by 2 per cent from a growth of
5.3 per cent and the sub-segment of consumer non-durables showed a
decline o f 0.5 per cent from a fall of 2.4 per cent.
"As
anticipated, the IIP growth recorded a broad-based plunge to an insipid
3.1 p er cent in September 2021, reflecting the base effect, disruption
caused by heavy rainfall, and the impact of semiconductor shortages on
auto output, despite the pre-festive season inventory build-up suggested
by the GST e-way bill data," said Aditi Nayar, Chief Economist, ICRA.
"The pace of IIP growth in September 2021 trailed our forecast of 4 per cent ."
According
to Sunil Kumar Sinha, Principal Economist, India Ratings and Research:
"Index of Industrial Production (IIP) for the month of September 2021
shows a yoy growth of 3.1 per cent primarily driven by manufacturing and
mining sector growth."
"No doubt festival demand is finding
reflection in the yoy growth but the co nsumption demand after the Covid
1.0 and 2.0 still has not reached to the le vel that industrial output
could reach or surpass the pre-Covid period."
"India Ratings and Research (Ind-Ra) believes revival of industrial output will remain a challenge in the near term."
|
|
|
|
|
|
|
|
|
|
|
|
|
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 |
|
|
|
|
|
Commented Stories |
|
|
|
|
|
|
|
|