IIP clocks 5.7 p.c. growth in Apr.-Oct.

By Our Special Correspondent

NEW DELHI, DEC. 12. Industrial growth continued to slow down during April-October this year with the general Index of Industrial Production (IIP) recording a growth rate of 5.7 per cent against 6.7 per cent in the same period last year.

Statistics released by the Central Statistical Organisation (CSO) today show that the mining sector grew by 7.5 per cent during the period against 0.2 per cent and manufacturing by 5.8 per cent against 7.2 per cent. Electricity generation was up by 4.6 per cent only against 8.1 per cent. The general index, therefore, registered a 5.7 per cent growth against 6.7 per cent last year.

The performance for October was also mixed. While the mining sector grew by a robust 10.3 per cent against a negative 1.3 per cent last October, the manufacturing sector registered a 5.6 per cent growth against 9.4 per cent. Electricity generation was up 11.5 per cent against 9.9 per cent, thus taking the general index to a 6.6 per cent growth in October against a 8.4 per cent growth in the same month of last year.

Use-based statistics released by the CSO show that basic goods grew by 6.3 per cent during April-October 2000 against 5.3 per cent in the same period of last year while capital goods production was down by 1.3 per cent (negative 1.3 per cent) against a growth of 9.1 per cent last year. Intermediate goods production was up 5.3 per cent against 10.3 per cent and consumer goods by 8.4 per cent against 3.6 per cent. In this segment, consumer durables were up by a whopping 20.8 per cent against a 13.4 per cent increase last year while consumer non-durables grew by 4.6 per cent against 0.9 per cent last year.

Figures for October show basic goods production was up 10.3 per cent against 5.4 per cent in October 1999 while capital goods was down 1.7 per cent (negative 1.7 per cent) against a 4.7 per cent increase in October last year. Intermediate goods production was up 3.5 per cent only against a 13.9 per cent increase while consumer goods grew by 8.9 per cent against 7.7 per cent. In this segment, consumer durables production increased by 17.1 per cent from 9 per cent while consumer non-durables were up by 6.2 per cent against 7.4 per cent.

In the two-digit industry group segment, 14 out of the 17 sectors have shown positive growth in October. Wood and wood products, furniture and fixtures have shown the highest growth of 40.6 per cent followed by a 19.8 per cent growth in case of rubber, plastic, petroleum and coal products.

Metal products and parts, except machinery and equipment grew by 18.3 per cent while transport equipment and parts have shown a negative growth of 13.7 per cent, followed by a 10.9 per cent decline in paper and paper products and printing, publishing and allied industries. Non-metallic products also declined 7.7 per cent.

Along with the quick estimates of IIP for October, the CSO has also released the first revision of September and the second and final revision for July indices, based on updated data from source agencies. While there are no significant revisions in the indices of the electricity sector, the indices of the mining sector have undergone an upward revision of 1.1 per cent for July and 1.3 per cent for September. The manufacturing sector's index for September was also revised upward by 0.9 per cent.

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Section  : Business
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