India’s industrial output had reportedly contracted by 16.7% in March, as per government data.
According to Bloomberg Quint reporter Ira Dugal, the CPI for April has not been released owing to problems with regards data collection.
Reports quoted a Government release to add that while the Index of Industrial Production fell in March, it had seen an increase of 4.5% in February. The report also added that owing to the lockdown, the information flow had been restricted and the estimates may undergo revision.
India has been under a lockdown since March 25, amid the novel coronavirus outbreak. While the lockdown was somewhat relaxed in parts of the country earlier this month, many areas in India have now been under lockdown for nearly 50 days. Since most businesses, except for those deemed as being essential services and products, had remained shut during this time, the financial repercussions too have been immense.
According to a Bloomberg Quint report, the major sectors, that is, mining, manufacturing and electricity saw a contraction. This was maximum for the manufacturing sector, which from a 3.2% growth in February, contracted by 20.6% in March.
The publication added that electricity generation had contracted by 6.8% while mining output was flat in March. Both of these had registered a growth in February.
It must be mentioned that the complete fallout and repercussions of the coronavirus outbreak had not been reflected in data from March. As India continues to be under lockdown, many have expressed concern that the data might become increasingly more grim.
