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The index of industrial production (IIP) or factory output grew 1.7 per cent in February as against 1.3 per cent in January. The IIP had declined 3.2 per cent in February 2021. The industrial production jumped in February mainly on account of rise in the mining sector and power generation. IIP growth slumped to a 10-month low of 0.4 per cent in December last year. For the month of February 2022, the Quick Estimates of IIP with base 2011-12 stood at 132.1. The cumulative growth in April-February 2021-22 worked out to be 12.5 per cent. In the year-ago period, there was a contraction of 11.1 per cent.

As per the data released by the Ministry of Statistics and Programme Implementation, the manufacturing sector, which makes up over three-fourths of the IIP, grew by a mere 0.8 per cent in February, down from 1.3 per cent in the first month of 2022. However, mining and electricity saw an appreciable improvement. While mining output rose 4.5 per cent year-on-year in February, up from 2.8 per cent in January, that of electricity was also up by 4.5 per cent. In January, electricity production was up a mere 0.9 per cent. The Indices of Industrial Production for the Mining, Manufacturing and Electricity sectors for the month of February 2022 stood at 123.2, 130.8 and 160.8 respectively.

Growth in capital goods output, however, slowed to 1.1 per cent on a year-on-year basis from 1.4 per cent in January, while consumer durables and non-durables witnessed a contraction compared to the same month last year. As per Use-based classification, the indices stood at 130.8 for Primary Goods, 94.3 for Capital Goods, 144.0 for Intermediate Goods and 153.0 for Infrastructure/ Construction Goods for the month of February 2022. Further, the indices for Consumer durables and Consumer non-durables stood at 114.7 and 139.5 respectively for the month February 2022.