The Hindu : Industrial output up 6.3 p.c. in April-December

Online edition of India's National Newspaper
Friday, Feb 13, 2004

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Industrial output up 6.3 p.c. in April-December

By Our Special Correspondent

NEW DELHI, FEB. 12. Despite low growth rates registered in December 2003, the overall index of industrial production (IIP) has registered a significant increase during April-December 2003. Data released by the Central Statistical Organisation (CSO) show that industrial production increased by 6.3 per cent during this period as compared to 5.5 per cent growth in the same period of 2002.

Sectoral growth was, however, lower than in April-December 2002, except for the manufacturing sector. Mining, for instance, recorded a 4 per cent increase in April-December 2003 against 5.8 per cent registered in the same period of the preceding year and electricity generation was lower at 3.4 per cent against 3.8 per cent. Only the manufacturing sector reported a higher increase of 6.8 per cent during April-December 2003 against 5.7 per cent in the preceding year. The overall IIP, therefore, was higher at 6.3 per cent against 5.5 per cent in the same months of 2002.

For December 2003, only the electricity segment registered a higher growth of 4.9 per cent against 2.9 per cent in December 2002. Mining recorded a lower growth at 4.1 per cent against 6.1 per cent and manufacturing was just 6.5 per cent against 6.6 per cent in the same month of the preceding year. Thus, the overall IIP for December showed an increase of 6.2 per cent, same as in December 2002.

The consumer goods segment recorded an increase of 7.4 per cent during April-December 2003 against 7.5 per cent in the same months of the preceding year. In this segment, consumer durables were up by 8.3 per cent against a decline of 5.6 per cent in April-December 2002 while consumer non-durables were up only 7 per cent against 12.7 per cent in the preceding year.

The pattern is similar for December 2003. Basic goods production was up 4.7 per cent in that month, same as in December 2002, capital goods were up only 9.8 per cent against 12.6 per cent but intermediate goods were up 9.2 per cent against 4 per cent. Consumer goods were up only 3.8 per cent against a growth of 8.1 per cent and in this segment, consumer durables were up 10.8 per cent against a decline of 3.2 per cent. Consumer non-durables recorded a small growth of 1.9 per cent against 11.5 per cent.

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