IIP dips to 10-month low of 0.4% in Dec, govt data shows

India's industrial production (IIP) fell to 0.4 per cent in December 2021 from 1.3 per cent in the previous month (November 2021), according to official data released on Friday. This is the slowest growth in 10 months. 
 
As per the Index of Industrial Production (IIP) data by the National Statistical Office (NSO), the manufacturing sector's output contracted by 0.1 per cent in December last year. 

The industrial growth so far in FY2022 has jumped 15.2 per cent, as against a contraction of (-) 13.3 per cent in the corresponding period a year ago, according to the data.

Also Read: Eco Survey: India can withstand monetary policy normalisation by large economies

Data released last month showed that India's eight core sectors expanded by just 3.8 per cent in December 2021 as compared to 3.4 per cent in November 2021. 

As the eight core industries together constitute 40.3 per cent of the overall weight of the IIP, industrial growth was seen plunging in December 2021.

In December 2021, the mining output climbed 2.6 per cent, and power generation increased by 2.8 per cent.

Also Read: Industrial production grows 1.4% in November

The IIP had grown by 2.2 per cent in December 2020.

During April-December this fiscal, the IIP grew 15.2 per cent against a 13.3 per cent contraction in the same period last year.

Industrial production has been hit due to the coronavirus pandemic since March 2020, when it had contracted 18.7 per cent.

It shrank 57.3 per cent in April 2020 due to a decline in economic activities in the wake of lockdown imposed to curb the spread of coronavirus infections.