Industrial production inches up by 2.4% in Jan

Showing green shoots of recovery, industrial production inched up 2.4 per cent in January mainly due to perk up in manufacturing output and enhanced power generation.
The factory output, as measured by the Index of Industrial Production (IIP) had grown by 1 per cent in January, 2012.
For the April-January period of 2012-13 fiscal, the industrial production growth is at 1 per cent, down from 3.4 per cent in the same period of 2011-12, according to official data released here today.
Meanwhile, the decline in industrial output for December 2012 has been revised slightly upward to 0.5 per cent from a contraction of 0.6 per cent as per provisional estimates released last month.

The manufacturing sector, which constitutes over 75 per cent of the index, grew by 2.7 per cent in January, as against 1.1 per cent in the same month of 2012.
The growth in the output of the key sector remained low at 0.9 per cent in April-January this fiscal, as against 3.7 per cent growth in the same period in 2011-12.
Power generation has increased by 6.4 per cent in January compared to 3.2 per cent growth in January, 2012.
During the April-January period, electricity generation has gone up by 4.7 per cent, compared to a growth of 8.8 per cent in the same period in the last fiscal.