New Delhi, February 12
Industrial production grew by 1% in December, entering the positive territory after a month gap, mainly due to better performance of the manufacturing sector, official data showed on Friday.
The manufacturing sector — which constitutes 77.63% of the Index of Industrial Production (IIP) — recorded a growth of 1.6% in December 2020, as per the data released by the National Statistical Office (NSO).
The index had grown by 0.4% in December 2019. The industrial production had plunged 18.7% in March last year following the Covid outbreak and remained in the negative zone till August 2020.
With the resumption of economic activities, factory output posted growth of 1% in September. The IIP had grown by 4.2% in October. In November 2020, the factory output contracted by 2.1% — a tad higher than the provisional estimates of 1.9% decline. — PTI