New Delhi: Indicating sharp slowdown in the economy, industrial production declined by 3.5 percent in March mainly on account of contraction in manufacturing and mining output.
    
Growth in the factory output, as measured by the Index of Industrial Production (IIP), was higher at 9.4 percent in March last year.
    
The industrial production has been dismal at 2.8 percent in 2011-12 as compared to 8.2 percent in previous fiscal due to degrowth in mining at 2 percent and slower 2.9 percent growth in manufacturing, as per latest government data released here on Friday.
    
Output of the manufacturing sector, which constitutes over 75 percent of the index, contracted by 4.4 percent in March, compared to growth of 11 percent in March 2011.
    
Mining output too declined by 1.3 percent in March, as against growth of 0.4 percent in the same month a year ago. The capital goods output contracted by 21.3 percent as against a growth of 14.5 percent in the same month last year.
    
Consumer goods output has grown by a meagre 0.7 percent in March, as compared to 13.2 percent in the same month last year. Besides, the consumer durables segment output grew by 0.2 percent in March, as against robust 14.9 percent growth in the same month last year.
    
Power generation witnessed a growth of 2.7 percent in March, compared to 7.2 percent in the year-ago period.     In terms of industries, ten out of twenty two industry groups in the manufacturing sector have shown positive growth during the month of March as compared to the same month a year-ago.

(Agencies)

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