Industrial growth rate increases to 5.9 pc

A year ago, industry had grown by eight per cent during the April-January period, the IIP (base: 1980-81 = 100) revealed. Though three major sectors showed improvement, the sharpest growth was recorded by electricity which touched double digits at 10.7 per cent in January from 1.9 per cent a month ago.

The key manufacturing sector, which accounts for over three-fourths of the total IIP weightage, grew at 5.2 per cent during the month to touch a cumulative 4.6 per cent growth thus far in the current fiscal. It may be recalled that this sector had grown at 9.7per cent during the first ten months of 1996-97.

The growth in the mining sector touched 5.1 per cent compared to 1.8 per cent in December, making for a cumulative growth of 4.8 per cent during the year. Consumer goods came back strongly with a growth rate of 9.3 per cent.