The Hindu : 4.9 p.c. rise in April industrial production

Online edition of India's National Newspaper
Friday, Jun 13, 2003

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4.9 p.c. rise in April industrial production

By Our Special Correspondent

NEW DELHI JUNE 12. Industrial output rose by 4.9 per cent in April this year, a positive note on which to begin the current fiscal since the increase was only 4.1 per cent in the same month in 2002. Though this is lower than the overall growth rate of 5.7 per cent for 2002-03, it is a bright start for the current fiscal as industrial output generally tends to pick up later in the year.

According to quick estimates of Index for Industrial Production (IIP), the manufacturing sector rose by 5 per cent during the month as against 4 per cent in the same month last year. The mining sector, however, made a sizable contribution due to a buoyant growth of 8.3 per cent. The sector has rebounded after a low 3.6 per cent rise during April 2002. The overall growth rate for the mining sector in 2002-03 is 5.7 per cent.

The electricity sector, however, recorded a growth of only 1.9 per cent in the first month of the current fiscal against 5.2 per cent in the same period last year.

An official release says that according to the use-based Index of Industrial Production, the capital goods sector recorded a robust growth of 9 per cent in April, a substantial increase after the fall of 0.6 per cent last year in the same month.

Production in the consumer goods sector declined to 5.8 per cent from 8.9 per. The consumer durables sector witnessed a negative growth of 2.2 per cent as against 3.6 per cent.

Consumer non-durables also declined to 8.3 per cent from 10.7 per cent, indicating reduced consumer spending. Production in the basic goods sector fell to 3.9 per cent during April as against 4.7 per cent last year while the intermediate goods sector grew by 4.1 per cent as against 0.1 per cent.

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