New Delhi: The latest ''quick estimates'' of the official
Index of Industrial Production (IIP) for July reveal a
year-on-year growth of 7.9 per cent, as against 6.6 per
cent for the same month of 2003.
the index for manufacturing grew by 7.6 per cent (8 per
cent), those for mining and electricity went up by 3.7
per cent (2.9 per cent) and 14.1 per cent (1.4 per cent),
overall growth rate in the general IIP for April-July
2004 worked out to 7.8 per cent, which is higher than
the 5.9 per cent year-on-year increase recorded during
the corresponding four months period of 2003.
the three sectors comprising the IIP have registered higher
growth rates so far this fiscal manufacturing (8
per cent vs 6.4 per cent), mining (5.2 per cent vs 4.8
per cent) and electricity (7.9 per cent vs 2.7 per cent).
''use-based'' classification of the IIP provides an equally
encouraging picture. The index for ''capital goods''
a reliable proxy for investment activity taking place
in the economy has shown a growth rate of 14.7
per cent during April-July 2004 (over and above 9.1 per
cent), with this trend continuing in the latest month
of July as well (16.2 per cent vs 11.2 per cent).