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Poor performance of manufacturing and mining sectors pulled down the overall growth of industry to 7.8 per cent in 2010-11 from 10.5 per cent in the previous fiscal.
Factory output in March, as measured in terms of the Index of Industrial Production (IIP) released today, also witnessed lower growth of 7.3 per cent compared with 15.5 per cent expansion in the same month a year ago.
However, the performance in March was an improvement compared to 3.6 per cent growth registered in February.
The manufacturing sector, which accounts for almost 80 per cent of the index, saw fall in its annual growth to 8.1 per cent in 2010-11 from 11 per cent in the previous fiscal.
The sector has also shown poor performance in March, with a meagre growth of 7.9 per cent, compared with 16.4 per cent expansion in the same month last year.
The mining sector also saw a decline in growth to 5.9 per cent in 2010-11 from 9.9 per cent in the previous fiscal. During March, the sector’s growth was a mere 0.2 per cent compared with 12.3 per cent in the same month of 2009-10.
The capital goods segment was among the most affected as it grew by just 9.3 per cent in 2010-11 compared to a robust 20.9 per cent in the previous fiscal. During March, the growth production slowed to 12.9 per cent from 36 per cent in the same month of 2010.
During the last fiscal, growth of the electricity sector slowed to 5.6 per cent against 6 per cent in 2009-10. During March, the sector reported a growth of 7.2 per cent compared with 8.3 per cent in the corresponding month of 2009-10.
Overall, 13 out of 17 industry groups achieved positive growth in March this year.
Production in the consumer non-durables segment went up by 2.2 per cent during the 2010-11 fiscal against 0.4 per cent in 2009-10. The consumer durables segment grew by 20.9 per cent during the fiscal, down from 24.6 per cent expansion in 2009-10.
Overall, consumer goods output reported a rise of 7.5 per cent last fiscal against 6.2 per cent in 2009-10. Intermediate goods reported a rise of 8.8 per cent during 2010-11, down from 13.6 per cent in the previous fiscal.
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