Categories: Business

India industrial production contracts 55.5 percent in April


IIP Contracts in April

new Delhi. India's factory production registered a sharp decline in April 2020, due to the coronavirus epidemic affecting all major sectors such as manufacturing, mining and power.

Factory production declined 55.5 percent year-on-year in April. Whereas in the same period last year, the growth of factory production was 3.2 percent. In addition, the Ministry of Statistics and Program Implementation has revised the data for March. According to the latest data, the decline during March was 18.32 percent.

The ministry has stated, "In view of the precautionary steps taken by the government to prevent the spread of the Kovid-19 epidemic and the announcement of a nationwide lockdown, most establishments in the industrial sector were not operating since late March 2020. Due to this, April 2020 During the period the production of goods produced by the establishments has been affected. Many units have not produced at all. "

The ministry has said, "Therefore it would not be appropriate to compare the IIP of April 2020 with the earlier months and consumers may see a change in the IIP in the coming months."

This post was published on June 13, 2020 3:38 am

Content Team

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