Low base pushed India’s April 2021 industrial production rate higher on YoY basis as well as growth levels last seen in pre-pandemic period of April 2019.
The Index of Industrial Production (IIP) for April zoomed to 126.6 (index reading) over the same month a year ago, when the gauge’s value stood at 54.
The April 2021 level was marginally higher from 126.5 index value which was reported for April 2019.
However, on sequential basis, April figure was lower when compared to March’s index reading of 145.5.
“For the month of April 2021, the Quick Estimates of Index of Industrial Production (IIP)with base 2011-12 stands at 126.6,” the Ministry of Statistics and Programme Implementation said.
“It may be noted that the nationwide lockdown and other measures implemented to restrict the spread of Covid 19 pandemic from the end of March 2020, had led to a majority of the establishments not operating in April 2020 and consequently, there were many units which reported ‘Nil’ production, affecting comparison of the indices for the months of April 2020 and April 2021,” it said.