Industry grows by 8 p.c. in 1999-2000

NEW DELHI, MAY 12. Led by a remarkable recovery in the manufacturing sector, industrial production during 1999-2000 posted an impressive 8 per cent growth as against 3.9 per cent recorded during the previous year.

The manufacturing sector grew by an impressive 9 per cent during April-March 2000 compared to only 4.3 per cent in the same period last year.

Other sectors which attributed to higher industrial growth during the last financial year were electricity sector which grew at 6.6 per cent against 6.5 per cent in 1998-99 and mining sector registering a growth rate of 0.6 per cent against a negative 1.7 per cent. For March 2000, industrial production registered a growth rate of 8.6 per cent against 4.4 per cent in March 1999.

The manufacturing sector, which accounts for nearly four-fifths of the total weight of IIP, grew by a whopping 9.6 per cent in March 2000 against 5.4 per cent in March 1999.

Among the use-based category, the recovery was led by consumer durables and intermediate goods. Consumer durables posted a growth rate of 12.2 per cent during the last financial year against 4.7 per cent in 1998-99.

The consumer non-durables goods sector during 1999-2000 showed a growth rate of 4 per cent as against a meagre 1.8 per cent in 1998-99. The intermediate goods sector posted a double-digit growth of 15 per cent during April-March 2000 compared to only 5.9 per cent.

The only sector in the use-based category which registered a fall in the growth rate was the capital goods sector. The sector during the last financial year grew at 4.8 per cent compared to an impressive double-digit growth of 11.8 per cent in 1998-99, the data said.

- PTI

Send this article to Friends by E-Mail

Section  : Business
Previous : Aurobindo Pharma to set up units near Los Angeles
Next     : Indian Bank revises term deposit, lending rates