National

Industry still under moderate growth

By Our Special Correspondent

NEW DELHI APRIL7. A recent survey by the Associations Council of Confederation of Indian Industry has shown that while a majority of the sectors have exhibited moderate growth rates, some have indicated clear signs of revival.

The survey covered 116 manufacturing sectors and 12 service sectors for April-March 2001-02 over corresponding period in the previous financial year, a CII release said.

The survey says that the high incidence of moderate growth rates reflects that the downtrend in the manufacturing sector witnessed in the first three quarters of the year due to overall slowdown in the economy continues to have its spell on major segments in the estimated April-March 2001-02.

However, some sectors have started showing signs of revival and may pick up in the first quarter of the current financial year, provided the Government adheres to the committed reform proposals and introduces the desired changes in the post-budget scenario. It also shows that 65 of the 116 sectors have exhibited a growth of zero per cent to 10 per cent, 15 sectors exhibited higher growth rates of 10 per cent to 20 per cent and the six sectors have shown growth of more than 20 per cent and 30 sectors recorded negative growth.

The low growth has mainly been due to the slowdown in the auto sector and the slack in the production of basic goods such as crude oil, fertilizer, cold-rolled steel and consumer durable items.

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