New Delhi : Industrial output growth slipped to 2.7 per cent in March, chiefly because of poor performance of the manufacturing sector, showed the IIP data based on the revised base year of 2011-12.
The index of industrial production (IIP) growth was 5.5 per cent in March 2016.
For 2016-17, factory output grew by 5 per cent as against 3.4 per cent in the year-ago period. On the other hand, IIP growth based on the old series (2004-05 base year) was 2.5 per cent in March compared to 0.3 per cent a year ago.
Similarly, the figure for 2016-17 was 0.7 per cent as against 2.4 per cent in the previous fiscal.
The Central Statistics Office (CSO) revises the base year of the macroeconomic indicators, as a regular exercise, to capture structural changes in the economy and improve the quality and representativeness of the indices.
As per the data based on the new base year, the manufacturing sector output slowed to 1.2 per cent in March, from 5 per cent in the same month of the previous fiscal.
