Indicating sharp slowdown in the economy, industrial production declined by 3.5 percent in March mainly on account of contraction in manufacturing and mining output.
Growth in the factory output, as measured by the Index of Industrial Production (IIP), was higher at 9.4 percent in March last year.
The industrial production has been dismal at 2.8 percent in 2011-12 as compared to 8.2 percent in previous fiscal due degrowth in mining at 2 percent and slower 2.9 percent growth in manufacturing, as per latest government data released here on Friday.
Output of the manufacturing sector, which constitutes over 75 percent of the index, contracted by 4.4 percent in March, compared to growth of 11 percent in March 2011.
Mining output too declined by 1.3 percent in March, as against growth of 0.4 percent in the same month a year ago.
The capital goods output contracted by 21.3 percent as against a growth of 14.5 percent in the same month last year.
Consumer goods output has grown by a meagre 0.7 percent in March, as compared to 13.2 percent in the same month last year.
Besides, the consumer durables segment output grew by 0.2 percent in March, as against robust 14.9 percent growth in the same month last year.
Power generation witnessed a growth of 2.7 percent in March, compared to 7.2 percent in the year-ago period.
In terms of industries, ten out of twenty two industry groups in the manufacturing sector have shown positive growth during the month of March as compared to the same month a year-ago.
The output of basic goods went up by just 1.1 percent in March, as against 6.4 percent in the same month last year. However, intermediate goods witnessed a contraction of 2.1 percent as against 3 percent growth in March last year.
The consumer non-durable goods output grew by a miniscule one per cent in the month of March as compared to 11.9 per cent in the same period last year.
The capital goods output declined by 4.1 percent in 2011-12 as compared to a high growth of 14.8 percent in 2010-11.
Besides, the intermediate goods production also contracted by one per cent in 2011-12 as compared to a growth of 7.4 percent in previous fiscal.
During the entire previous fiscal, the growth in consumer goods output slowed to 4.4 percent as compared 8.5 percent in 2010-11.
The consumer durable goods production growth slowed to 2.5 percent in 2012-11 as against 14.2 percent in 2010-11.
However, the non-durable consumer goods output recorded a growth of 5.9 percent in 2011-12 a compared to 4.2 percent in 2010-11.
Power generation in 2011-12 has been the only silver lining, as it grew by 8.2 percent in the year under review as compared to 5.5 percent in 2010-11.
PTI