New Delhi: India’s industrial production (IIP) grew by 29.3 per cent in May this year due to a very low base effect in May last year. IIP growth was 134 per cent in April 2021 due to the low base effect. The growth of March IIP was recorded at 22.4 per cent this year.
The government has released the IIP data for June 2021 on 12 July. IIP growth was negative till February this year.
The government said, “Last year there was a lockdown due to coronavirus infection from March 2020, due to which the growth figures of last year should be looked at.”
It is reasonable that the figures of May 2021 should not be compared with May 2020 as there was a lockdown during that time. The work in the factory was completely closed due to the lockdown across the country due to coronavirus infection.
The manufacturing sector’s output grew 34.5 per cent in May. Earlier, its growth in April was 200% due to low base effect. Its growth in March was 25.8 percent.
