IIP growth rate slips to 4.9 p.c.

By Our Special Correspondent

NEW DELHI, MAY 11. The dismal picture of industrial growth during 2000-01 is now complete with the figures for the whole year showing the growth rate to be 4.9 per cent only against 6.7 per cent in the previous year. The growth rate for March 2001 was recorded at 1.3 per cent only, sharply down from 8.3 per cent in the same month last year.

According to the data released by the Central Statistical Organisation (CSO), the mining sector registered a negative 1.6 per cent in March this year against a positive growth of 2.9 per cent last year, the manufacturing sector grew by only 1.6 per cent against 9 per cent growth last year and electricity generation was up only 1.5 per cent against 6.7 per cent. The overall index for March 2001 was, therefore, up by 1.3 per cent against 8.3 per cent in the same month last year.

The corresponding figures for April-March 2000-01 show that the mining sector grew 3.4 per cent this year against a 1 per cent growth in the previous year, manufacturing was up 5.2 per cent against 7.1 per cent and electricity generation was up 4 per cent against 7.3 per cent. The overall index of industrial production (IIP), therefore, stood at 4.9 per cent against 6.7 per cent last year.

Use-based statistics released by CSO show that basic goods sector declined by 1.4 per cent in March this year against a 7.3 per cent growth in the same month of the previous year, capital goods were also down by 4.3 per cent against a growth of 9.8 per cent in March 2000, intermediate goods were up 5.3 per cent against a 7.3 per cent and consumer goods were up 2.6 per cent against 9.5 per cent in March 2000. In this segment, consumer durables were down by 2.4 per cent against a 18 per cent growth last March while consumer non-durables were up 4.5 per cent in March this year against 6.8 per cent in March last.

Corresponding figures for the full year 2000-01 show that basic goods production was up 3.8 per cent against 5.5 per cent in the previous year, capital goods were up 1.4 per cent against 6.9 per cent, intermediate goods were up 4.5 per cent against 8.8 per cent and consumer goods were up 7.9 per cent against 5.7 per cent. In this segment, consumer durables were up 14 per cent against 14.1 per cent in 1999-2000 and consumer non-durables were up 6 per cent against 3.2 per cent.

In the two-digit industry segment, nine out of the 17 groups have shown positive growth during March 2001. Jute and other vegetable fibre textiles (except cotton) have shown the highest growth of 21 per cent, followed by 17.6 per cent in leather and leather and fur products and 12.6 per cent in rubber, plastic, petroleum and coal.

On the other hand, transport equipment and parts have shown a negative growth of 11.9 per cent, followed by a negative growth of 11 per cent in wood and wood products and furniture and negative 9.2 per cent in metal products and parts, except machinery and equipment.

The CSO has also released the final review of the December 2000 IIP and the first revision of February 2001 IIP.

While there is no significant change in the December IIP, the February 2001 IIP shows the mining index has gone down by negative 3.1 per cent whereas manufacturing and electricity have gone up by 2.8 and 1.1 per cent, respectively. The overall index, therefore, moved up to 2.2 per cent.

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