India's industrial output, powered by the mining and power sectors, shot up by 7.1 percent in April 2022 compared to 1.9 percent in March, according to National Statistical Organisation (NSO) data released on Friday, 10 June.
The mining and power sectors grew by 7.8 percent and 11.8 percent.
The NSO has, however, clarified, that unusual circumstances brought on by the pandemic must be considered while interpreting growth rates over corresponding period of the previous year.
How Much Have Other Sectors Grown?
The manufacturing sector logged a 6.3 percent growth in the first month of the current financial year. The capital goods expanded by 14.7 percent, while the consumer durables sector registered a 8.7 percent growth.
The primary goods, infrastructure/construction goods, consumer non-durables and intermediate goods sectors, grew by 10.1 percent, 3.8 percent, 0.3 percent and 7.6 percent.
In the wake of the coronavirus pandemic industrial production in India contracted to 18.7 percent. It fell to 57.3 percent in April 2020 as economic activities declined due to the lockdown.
Meanwhile, Inflation Is on the Rise...
India's retail inflation spiked to an eight-year high to 7.79 percent in April crossing the upper limit of Reserve Bank of India (RBI)'s target range for the fourth time, Business Today reported.
However, the CPI-based inflation went down modestly in May, but still stayed above the RBI's tolerance limit as lower fuel prices balanced surging food costs, according to a Reuters poll.
(With inputs from Business Today, Financial Express and Reuters.)
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