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India’s industrial production for the month of March witnessed a record contraction of 16.7 percent for the month of March as a result of the national blockade imposed since March 25.
The Industrial Production Index (PII) had grown 4.5% in February and 2.7% in March 2019.
According to a Livemint According to the report, data from the National Statistical Office (NSO) show that manufacturing sector output contracted 20.6 percent in March and electricity generation fell 6.8 percent. Both sectors had grown 3.1% and 2.2% in March 2019.
The Ministry of Statistics and Program Implementation attributed the drop in growth to the worldwide Covid-19 pandemic and the subsequent national blockade.
“In view of the worldwide Covid-19 pandemic and the consequent national closure measures implemented since March 2020, the data flow of the producing units was affected. As some of these units have not yet resumed operations, the response rate has been lower than usual. Accordingly, the quick estimates are likely to be subject to revision and will be incorporated in subsequent versions based on IIP’s revision policy, ”the statement read.
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