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Tougher times ahead: Industrial output falls 16.7% in March

The national industrial output scale IIP nose dived 16.7% in March,according to the data released by the Ministry of Statistics & Programme Implementation (MoSPI).

The industrial growth during the fiscal year 2019-20 (April-March) slipped 0.7 percent, compared to a 3.8 percent rise in 2018-19, the data showed.The steep fall in IIP during March was mainly on account of a dismal show by mining, manufacturing and electricity sector due to the nationwide lockdown due to the coronavirus (COVID-19).The data showed a marginal 2.7 percent growth in IIP during the last years March 2019.

“In view of the global COVID-19 pandemic and consequent nationwide lockdown measures implemented since March, 2020, the data flow from the producing units was impacted. As some of these units are yet to resume operations, the response rate has been lower than usual,” the statement from the ministry said.

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