New Delhi: Factory output grew by 1.3 per cent year-on-year in January, though the capital goods segment remained in contraction mode, led by better performance of mining and manufacturing sectors, according to government data released on Friday.
The Index of Industrial Production (IIP) had declined by 0.6 per cent in January 2021. The growth rate in December 2021 was 0.7 per cent.
According to the data released by the Ministry of Statistics and Program Implementation, growth in the mining sector stood at 2.8 per cent as against a contraction of 2.4 per cent in January 2021.
The manufacturing sector grew by 1.1 per cent during January 2022, as against 0.9 per cent in the year-ago period.
However, the growth in power generation declined to 0.9 per cent in January 2021 against an expansion of 5.5 per cent.
In the April-January period of the current fiscal, IIP growth stood at 13.7 per cent, as against a contraction of 12 per cent in the same period of 2020-21.
The data further revealed that capital goods production contracted by 1.4 per cent as against the sharp contraction of 9 per cent seen in January 2021.
The consumer durables segment also remained in negative territory, showing an annual contraction of 3.3 per cent.
However, the primary goods segment, which accounts for about 34 per cent of the index, grew 1.6 per cent in January 2021, as against 0.7 per cent in the year-ago month.
Intermediate goods, infrastructure/construction goods and consumer non-durable segments also posted positive growth.
The Ministry said that in view of the unusual circumstances due to the Kovid-19 epidemic from March 2020, the growth rate of the corresponding period last year has to be explained.
After registering contraction in several months during the pandemic period, the IIP has remained in positive territory since March 2021.
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