India's industrial production down 2.3 per cent in March
12 May 2009
The index of industrial production (base 1993-94=100) in the country shrank 2.3 per cent to 297.9 in March 2009, compared to the level in the March 2008, as per quick estimates provided by the Central Statistical Organisation (CSO).
This compares with a 5.5 per cent growth in industrial production recorded in March 2008 and a (-) 0.7 per cent growth recorded in February 2009.
The cumulative growth of IIP for the period April-March 2008-09 stood at 2.4 per cent against 8.5 per cent in the corresponding period of the previous year.
The production indices for the mining, manufacturing and electricity sectors for March 2009 stood at 206.7, 317.2, and 241.3 respectively, with the corresponding growth rates of 0.4 per cent (4.9 per cent), (-)3.3 per cent (5.7 per cent) and 6.3 per cent (3.7 per cent) as compared to March 2008. The cumulative growth of production during April-March 2008-09 over the corresponding period of 2007-08 in the three sectors have been 2.3 per cent, 2.3 per cent and 2.8 per cent respectively, which moved the overall growth in the general index to 2.4 per cent.
In terms of industries, as many as five out of the 17 industry groups have shown positive growth during March 2009 as compared to the corresponding month of the previous year. The industry group 'beverages, tobacco and related products' have shown the highest growth of 15.1 per cent, followed by 8.3 per cent in 'basic chemicals and chemical products (except products of petroleum and coal)' and 7.0 per cent in 'transport equipment and parts'.
On the other hand, the industry group 'food products' has shown a negative growth of 35.8 per cent, followed by 25.1 per cent in 'wood and wood products; furniture and fixtures' and 19.7 per cent in 'other manufacturing industries'.
As per use-based classification, the sectoral growth rates in March 2009 over March 2008 are 1.4 per cent in `basic goods', (-)8.2 per cent in `capital goods' and (-)4.4 per cent (4.9 per cent) in `intermediate goods'.
The `consumer durables' and `consumer non-durables' sectors have recorded growth rates of 8.3 per cent (-0.2 per cent) and (-)3.6 per cent respectively, with the overall growth in `consumer goods' at (-)0.8 per cent (-0.09 per cent).
The CSO has, meanwhile, revised the indices for February 2009 (first revision) and those for December 2008 (final revision) in the light of the updated data received from the source agencies.
It may be noted that revised indices (first revision) in respect of January 2009 have already been released in April 2009 and these indices shall undergo final (second) revision in June 2009.
