Indian Economy

India's Index of Industrial Production, in February slowed drastically to 3.6% from a 15.1% for the corresponding month last year, dragged down by poor performance of manufacturing, mining and capital goods sectors.

The growth was also slower than the revised growth rate witnessed in the preceding month. The cumulative index of industrial production for the first eleven months of this fiscal was 7.8%, down from last year's 10%. The data for January revised upwards to 3.95% from the earlier provisional figure of 3.7%.

Manufacturing sector, fell drastically by 3.5% from the 16.1% in the February of the preceding year.

The power sector's growth fell by 6.7% from the 7.3 % for the corresponding month last year.

The mining sector's figure sharply declined by 0.6% from a 11% in February last year. 15 of the 17 industry groups showed a positive growth in February, compared to the corresponding month of the preceding year.

Capital goods sector showed a negative growth of 18.4%, compared to a positive growth of 46.7% last February. Basic goods declined by 5.9% from 8.5% of February last year, while intermediate goods fell sharply by 8.4% from the 15.9% for the corresponding month last year.

Growth of the consumer durables sector dropped by 23.4 % from the 29.1% as on last February, whereas non-durables showed a positive growth of 6.1%, compared to a negative growth of 0.8% for the same month last year.