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Industrial growth dips to 5.7 per cent in April-October
New Delhi: The much-wanted buoyancy continues to elude the domestic manufacturing
industry, with the overall Index of Industrial Production (IIP) registering a 5.7 per cent
annual growth during the first seven months of the current fiscal, against 6.7 per cent
during April-October 1999.
According to the Central Statistical
Organisation (CSO) quick estimates of the IIP (base:1993-94=100), the growth rates have
fallen for `manufacturing' as well as `electricity', while going up in the case of
`mining'. For the April-October period, the index for manufacturing went up by 5.8 per
cent (compared to 7.2 per cent during April-October 1999). The index rose by 4.6 per cent
(8.1 per cent) for electricity and 7.5 per cent (0.2 per cent) for mining.
The production of capital goods -- which is a
critical indicator of the investment demand levels in the economy -- has actually fallen
by 1.3 per cent during April-October this year, with the growth rate at minus 1.7 per cent
for October. In contrast, the capital goods output growth stood at 9.1 per cent during
April-October 1999 and 4.7 per cent in October 1999.
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Prices of
100 drug formulations cut
New Delhi: The National Pharmaceutical Pricing Authority (NPPA) has cut the prices of 100
drug formulation packs, with the reduction ranging from 2.74 per cent to 81.84 per cent.
The formulations for which prices have been revised include those based on aspirin,
pseudoephedrine, cefadroxyl, cefazolin, cefatoxime, cloxacillin, chloroquine phosphate and
pentazocine.
The NPPA has also fixed prices of 21
formulation packs for the first time, and raised the prices of three (the increase ranged
from 7.78 per cent to 26.68 per cent). Of the 124 packs, ceiling prices (exclusive of
excise duty and local taxes) have been fixed for 77 and non-ceiling prices (inclusive of
excise duty, but exclusive of local taxes) have been set in respect of the remaining 47
formulations.
The prices were revised on December 8 and
will become effective within next 15 days notification in the official gazette.
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