The Hindu : Industrial production up 4 p.c. in Apr.-June

Online edition of India's National Newspaper
Tuesday, Aug 13, 2002

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Industrial production up 4 p.c. in Apr.-June

By Our Special Correspondent

NEW DELHI AUG. 12. Industrial production looked up in the first quarter of the current fiscal year with the Index of Industrial Production (IIP) growing 4 per cent during April-June 2002. The growth in the same period of last year was only 2.2 per cent.

For June alone, the IIP was also higher at 4 per cent against a 2.6 per cent growth in June last year.

As per the data released by the Central Statistical Organisation (CSO), the higher growth this year has been facilitated by the upsurge in the mining sector which grew 7.6 per during April-June this year against a negative 1.5 per cent last year. The manufacturing sector also reported higher growth at 3.7 per cent against 2.6 per cent while electricity generation was higher at 3.6 per cent against 2.2 per cent. Consequently, the general index was higher by 4 per cent against 2.2 per cent in April-June 2001.

Data for June alone show that mining was up 9.1 per cent against a negative 4.1 per cent in June 2001, manufacturing by 3.6 per cent against 3.4 per cent and electricity generation by 3.5 per cent against 2.1 per cent. The general index, therefore, was up by 4 per cent against 2.6 per cent.

Use-based statistics released by the CSO show that during April-June, basic goods production was up by 5.1 per cent (against 1.4 per cent in April-June 2001), capital goods by 1.6 per cent (- 6 per cent), intermediate goods by 1.1 per cent (3.3 per cent) and consumer goods by 6.5 per cent (4.8 per cent). In this segment, consumer durables were up by 0.5 per cent (7.4 per cent) and consumer non-durables by 8.7 per cent (3.9 per cent).

Data for June alone show that basic goods production was up by 5.8 per cent (0.2 per cent in June 2001), capital goods by 5.4 per cent (- 9.8 per cent), intermediate goods by 2.1 per cent (3.5 per cent) and consumer goods by 3.5 per cent (9.3 per cent). In this segment, consumer durables were down 4.5 per cent (a positive growth of 8.5 per cent) and consumer non-durables by 6.5 per cent (9.5 per cent).

In the two-digit segment, 10 of the 17 industry groups have shown positive growth during June. Textile products (including wearing apparel) have shown the highest growth of 23.8 per cent, followed by 15.8 per cent in beverages, tobacco and related products and 10.5 per cent in jute and other vegetable fibre textiles (except cotton). On the other hand, wool silk and man-made fibre textiles have shown negative trends of 17 per cent followed by negative 5.1 per cent in metal products and parts, except machinery and equipment, and negative 4.4 per cent in cotton textiles.

The CSO has also announced that the time-series indices of the mining sector from April 2000 onwards have been revised by the Indian Bureau of Mines, Nagpur, after exclusion of production of gold received from Indo Gulf Corporation as this is now not being considered as mining activity. The data on quick estimates of IIP for June 2002 also incorporate the revised time-series indices of the mining sector. Taking into account updated production data and exclusion of gold received from Indo Gulf Corporation, the final index of the mining sector for March 2002 had been revised downwards by 1.7 per cent.

There are no significant revisions in the indices of manufacturing and electricity sectors for March 2002 and the sectoral as well as general indices for May 2002.

Along with the Quick Estimates of IIP for June, 2002, the indices for May, 2002 have undergone the first revision and those for March, 2002 have undergone the second (final) revision based upon the updated data received from the source agencies.

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