The
country is on a road to industrial recovery for sure.
The Central Statistical Organisation has just released
the quick estimates of the index of industrial production,
which shows industrial growth rate for the first quarter
of fiscal 1999-2000 was 5.6 per cent compared to 4.5 per
cent in the first quarter of 1998-99.
In
June 1999, industrial output rose 5.5 per cent, taking
the index to 144.6. This compares with a figure of 4.8
per cent in June 1998. May 1999 registered a 7.2 per cent
growth rate, against 3.7 per cent in May 1998.
The
manufacturing, especially consumer goods, and electricity
sectors have registered steady growth, while there was
a slight slowing down in the mining sector. Manufacturing
and electricity grew 6.5 per cent and 4.1 per cent respectively
in June, while mining sector expanded 1.5 per cent. Growth
of the manufacturing and electricity sectors in the April-June
1999 quarter was 6.6 per cent and 4.1 per cent respectively.
The electricity sector had registered a growth of 10.2
per cent in the same period last year.
On
a use-based classification, growth in June 1999 was 9.9
per cent in intermediate goods, 4.5 per cent in capital
goods and 3.7 per cent in basic goods, compared to June
1998. The consumer durable and consumer non-durable segments
grew 11.1 per cent and 1.7 per cent respectively, while
the consumer goods sector as a whole grew 3.6 per cent.
At 3.7 per cent, the growth rate of consumer goods in
the quarter April-June 1999 was marginally higher than
in the previous year. Consumer durables grew 15 per cent.
The
index for capital goods sector grew 4.5 per cent in June
and 10.3 per cent in the quarter. Basic goods, which account
for over one-third of the total weight of index, had a
3.7 per cent growth during the month and 2.8 per cent
in the first quarter.
The
CSO says that 10 of the 17 two-digit (broader) industry
groups have shown positive growth during June 1999.
Machinery and equipment, other than transport equipment,
recorded the highest growth of 21.8 per cent followed
by non-metallic mineral products with 16.7 per cent, and
wool, silk and man-made fibre textiles with 16.4 per cent.
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