The industrial production is expected to remain in contraction mode with a -8.5% growth for the entire financial year despite marginal improvements in H2.
Industrial production had recorded mild growth in FY20 on account of de-growth in automobile, machinery equipment and electronic goods.
In FY21, a marginal improvement in these sectors was expected. However, the Covid situation adversely impacted fresh capex plans along with new launches in critical sectors such as automobiles.
Oil price, a major driving factor for automobile industry is expected to remain favourable for the industry.
Stimulus packages from central and state governments, which were expected to aid in the revival of the consumer sentiment - are successful to an extent.
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