IIP logs 5% growth in Dec

According to quick estimates of the index of industrial production (IIP), released by the Central Statistical Organisation here on Tuesday, cumulative industrial growth for April-December 2002-03 stood at 5.3 per cent against 2.5 per cent during year-ago period. During the nine-month period, the manufacturing segment registered a 5.4 per cent growth over 2.7 per cent during the same period last fiscal. Mining also grew at 5.6 per cent and electricity at 3.8 per cent during the first three quarters of this fiscal compared to 0.9 and 2.8 per cent respectively during the same period previous fiscal.

In use-based category, the capital goods sector posted a 11.7 per cent growth in December 2002 over a negative 3.9 per cent in December 2001. Cumulative growth in the sector went up by 10.3 per cent over a negative 4.8 per cent in December 2001. Basic goods grew 3.4 per cent in the month under review over 3.2 per cent in the same month last year, while during the nine-month period of this fiscal it grew at 4.5 per cent against 2.2 per cent during the same period last fiscal.

Intermediate goods saw a rise of 3 per cent last December over 0.6 per cent in December 2001. The sector saw a 2.6 per cent growth during the first nine months of this fiscal over 2 per cent.