Sumary of Base effect sends IIP soaring 134% in April:
- The country industrial growth technically jumped 134 per cent year-on-year in April, mainly due to the base effect..
- According to National Statistical Office (NSO) data, the Index of Industrial Production surged to 126.6 in April 2021 from 54.0 in the same month last year, when the nationwide lockdown to curb the spread of Covid-19 had brought production to halt at most units..
- Aditi Nayar, Chief Economist with ICRA, said assessing the growth in April 2021 relative to the same month of 2019 would provide a clearer signal of the momentum in various sectors..
- “Encouragingly, the pace of year-on-year industrial growth in April 2021 exceeded our expectations, and the index was in line with the pre-Covid level of April 2019,”…