IIP clocks 5.7 p.c. growth in first quarter

By Our Special Correspondent

NEW DELHI, AUG. 11. Industrial growth in the first quarter of the current fiscal year has clocked 5.4 per cent, marginally lower than the 5.7 per cent growth recorded during April-June 1999. However, there have been sharp drops in capital goods and intermediate goods production.

According to statistics released by the Central Statistical Organisation (CSO), the mining sector recorded a four per cent growth in the first quarter against a negative growth of 1.1 per cent in same quarter last year while the manufacturing sector grew by 5.5 per cent (against 6.7 per cent).

With the electricity sector growing by 4.9 per cent (4.5 per cent), the overall Index of Industrial Production (IIP) grew 5.4 per cent.

The performance for June alone shows that the mining sector grew 3.8 per cent (against a negative 1.7 per cent), manufacturing 5.1 per cent (5.8 per cent) and electricity generation 4.7 per cent (4.1 per cent).

Consequently, the IIP for June grew 4.9 per cent against a five per cent growth in June last year.

Use-based statistics released by the CSO reveal that basic goods production was up 5.5 per cent in April-June 2000 (against 3.3 per cent in the same period last year), capital goods by zero per cent (10.6 per cent), intermediate goods by four per cent (against 10.5 per cent) and consumer goods by 8.5 per cent (against 2.1 per cent).

In this, consumer durables registered a 23.9 per cent growth (against 13 per cent) and consumer non-durables 4.1 per cent (against a negative growth of 0.6 per cent).

The June figures of use-based statistics show that the basic goods sector grew 4.6 per cent (against 4.7 per cent in June 1999), capital goods production was done 1.6 per cent (against a growth of 9.2 per cent), intermediate goods by 3.9 per cent (against 8 per cent) and consumer goods by 9.1 per cent (against 0.4 per cent).

In this segment, consumer durables grew 27.1 per cent (against 11 per cent) and consumer non-durables by 3.6 per cent (against a negative 2.3 per cent).

CSO statistics also show that 13 out of the 17 two-digit industry groups have shown positive growth in June as compared with the corresponding month in the previous year.

Metal products and parts, except machinery and equipment, have shown the highest growth of 30 per cent, followed by 16.7 per cent for jute and other vegetable fibre textiles (except cotton) and 13.8 per cent in wool, silk and man-made fibre textiles.

On the other hand, transport equipment and parts have shown a negative 15 per cent drop, followed by a negative 10.4 per cent in leather and leather and fur products and a negative 9.6 per cent in paper and paper products and printing, publishing and allied industries.

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