Industrial production growth down 3.5 per cent in March

Industrial production in the country grew at a negative 3.5 per cent in March, the last month of fiscal 2011-12, pulled down by negative growth in manufacturing production, power generation and mining output.

The general index of industrial production (IIP) with base 2004-05 for March 2012 stood at 186.4, down 3.5 per cent compared to the level in March 2011, quick estimates released by the Central Statistics Office showed.

The cumulative (year-on-year) growth of industrial production for the financial year April-March 2011-12 stands at 2.8 per cent.

During March 2012, production in the mining, manufacturing and electricity sectors grew at (-)1.3 per cent, (-)4.4 per cent and 2.7 per cent, respectively, with corresponding indices of 149.3, 197.1 and 158.6.

The three sectors recorded cumulative growth rates of  (-) 2.0 per cent, 2.9 per cent and 8.2 per cent, respectively, during April-March 2011-12, which moved the overall growth in the general index, or IIP, to 2.8 per cent.

Ten out of the 22 industry groups in the manufacturing sector have shown positive growth during March 2012 compared to the corresponding month of the previous year. The highest growth of 52.8 per cent was recorded by the industry group 'publishing, printing and reproduction of recorded media', followed by 17.4 per cent in 'radio, TV and communication equipment and apparatus' and 13.9 per cent in 'rubber and plastic products'.