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NEW DELHI, May 12

A STRONG recovery in the manufacturing sector has helped push up industrial growth to 5.8 per cent in fiscal 2002-03, from 2.7 per cent in the previous year.

As per the latest estimates of index of industrial production (IIP) released by the Central Statistical Organisation (CSO), while the manufacturing sector grew at six per cent (as against 2.9 per cent), mining grew by 5.8 per cent (1.2 per cent) and electricity by 3.2 per cent (3.1 per cent).

In terms of the use-based classification, the capital goods sector registered a growth of 10.4 per cent during the year, up from - 3.4 per cent in the previous year. Consumer goods grew by 7.2 per cent (six per cent), basic goods by 4.8 per cent (2.6 per cent) and intermediate goods by 3.8 per cent (1.5 per cent).

At the two-digit classification level, as many as 13 of the 17 industry groups have registered positive growth during the year. While beverages, tobacco and related products grew by 27.3 per cent, textile products grew by 15.6 per cent, transport equipment by 14.9 per cent and food products by 10.7 per cent. Wood and wood products grew by - 17.8 per cent, leather by - 2.9 per cent, cotton textiles by - 2.4 per cent and other manufacturing products by - 0.5 per cent.

On a month-to-month basis, industrial growth has been estimated at 6 per cent in March 2003, as against 3.2 per cent in the corresponding period in the previous year. Manufacturing grew at the rate of 6.8 per cent (3 per cent), mining grew by 6.6 per cent (3.2 per cent) and electricity by negative one per cent (5.2 per cent).

As per the use-based classification, the growth in March over March 2002 is 4.1 per cent in basic goods, 8.2 per cent in capital goods and 7.6 per cent in intermediate goods. The consumer durables and consumer non-durables have recorded growth of (-)12.7 per cent and 12.5 per cent respectively, with the overall growth in consumer goods being 6.1 per cent.

As many as 14 of the 17 two-digit industry groups have shown positive growth during March 2003 as compared with the corresponding month of the previous year. Beverages, tobacco and related products have shown the highest growth of 33.2 per cent, followed by 21.9 per cent in jute and other vegetable fibre textiles (except cotton) and 21.8 per cent in food products. On the other hand, wool, silk and man-made fibre textiles have shown a negative growth of 17.1 per cent followed by a decline of 11.1 per cent in wood and wood products; furniture and fixtures and 0.2 per cent in basic chemicals & chemical products (except products of petroleum & coal).

The CSO has noted that along with the quick estimates of IIP for March 2003, the indices for February 2003 have undergone the first revision and those for December 2002, the second (final) revision in the light of the updated data received from the source agencies. There are no significant revisions in the indices for December 2002 and February 2003.

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