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Govt revises factory output growth to 2.2% in April from 2%

Govt revises factory output growth to 2.2% in April from 2%
Government on Thursday revised the industrial output growth rate to 2.2 percent in April from 2 percent released yesterday after a correction in recording of production data for electricity.

"The General Index (of industrial production) for the month of April 2013 is revised upward to 167.8 from 167.3 shown in the press release (issued yesterday). The revised index is 2.2 percent, higher as compared to the level in the month of April 2012," a Ministry of Statistics and Programme Implementation statement said here.The factory output measured in terms of index of industrial production (IIP) had seen a contraction of 1.3 percent in April last year.

Elaborating further the ministry said, "Due to wrong recording of production data for electricity sector, the Index of Industrial Production (IIP) for the electricity sector for the month of April 2013 is corrected to 159.1 from 153.8 as shown in the press release issued on June 12, 2013 of this Ministry."

According to the statement, the indices of industrial production for the mining, manufacturing and electricity sectors for the month of April 2013 now stand at 121.0, 177.8 and 159.1 respectively, with the corresponding growth rates of (-) 3.0 percent, 2.8 percent and 3.4 percent as compared to April 2012.

The ministry has also revised the growth rate in the output of basic goods to 2 percent from 1.3 percent released yesterday.


Read more about: iip
Story first published: Thursday, June 13, 2013, 14:25 [IST]
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