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Thursday, February 11, 1999

IIP posts dismal growth at 3.2% in December 

Our Economic Bureau  
New Delhi, Feb 10: Industrial production has continued to elude recovery and has registered a growth of mere 3.2 per cent for the month of December 1998 against 7.1 per cent in the corresponding month previous fiscal. According to the quick estimates of the index for industrial production (IIP) released by the Central Statistical Organisation (CSO) on Wednesday, the cumulative growth for the first three quarters of the current fiscal (April-December 1999) works out to be 3.5 per cent against 6.7 per cent in the corresponding period last year.

The manufacturing sector has recorded a growth of 3.1 per cent for the month of December as compared to 7.6 per cent in the previous fiscal while the electricity sector has recorded a substantial improvement by growing at 8.1 per cent for the month as compared to 3.1 per cent for the same period in the previous fiscal. The mining sector has, however, shown a decline by registering a fall in growth by (-) 1.6 per cent as compared to growth of 7.5 per cent for the monthof December.

Cumulatively for the first nine months of the current fiscal, manufacturing has recorded a growth of 3.7 per cent as compared to 6.9 per cent in the same period last year. At the same time, the electricity sector showed a higher growth at 6.6 per cent as compared to 6.0 per cent in the previous period. Mining continued to reel under a declining trend by recording a fall of (-) 1.1 per cent against 5.5 per cent growth in the same period in the previous fiscal.

For the first nine months, the capital goods sector has reported a growth of 9.8 per cent which is higher than that of the previous fiscal which stands at 6.7 per cent. While the other major group, basic goods has shown a sluggish growth of 1.4 per cent as compared to 6.8 per cent recorded last year. At the same time, the intermediate goods have recorded a growth of 4.7 per cent as compared to 9.0 per cent in previous fiscal.

The consumer goods has recorded a growth of 5.7 per cent as against 6.5 per cent in the previous fiscal in thesame period.

Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.


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