Industrial growth spurts to 6 pc in first half

Industrial production during July recorded a growth of 5.4 per cent as against 3.4 per cent a year ago. The manufacturing sector, which accounts for about four-fifth of the total weight of IIP, grew by 6.7 per cent in the first five months of this fiscal against 4.2 per cent in 1998-99. In August, the sector grew by 6.1 per cent as compared to 4.5 per cent last year.

However, the mining sector continued to show a negative growth of 0.3 per cent in April-August though the sector grew by 1.9 per cent in August. The electricity sector recorded a 10.9 per cent growth in August as compared to 6.8 per cent in the same period in 1998. But the cumulative growth for the first five months was lower at 6.1 per cent against 8.7 per cent in 1998-99. Capital goods sector recorded a growth of 10.4 per cent in April-August this year as compared to 9.8 per cent posted in the same period last year. However, the growth in August fell to 9.0 per cent against 12.5 per cent in 1998. Consumer durables sector showed impressive performance in August growing at a rate of 12.3 per cent against 1.2 per cent last year. In April-August, the sector recorded a 13.7 per cent growth against one per cent in the same period in 1998-99.

However, the cumulative growth in the first five months in consumer non-durables sector declined to 0.9 per cent as compared with 2.5 per cent last year. Basic goods sector grew at a rate of 4.2 per cent in April-August against 3.4 per cent in 1998-99. In August, the sector grew at a faster pace of 6.7 per cent against 3.8 per cent last year.

Intermediate goods showed a 9.1 per cent growth against 5.6 per cent in April-August 1998-99. But the growth rate slipped to six per cent in August as compared to 6.5 per cent in 1998-99. On the other hand, growth in the consumer goods sector went up by 4.9 per cent against 0.5 per cent in August last year. In the first five months, the sector recorded a 3.6 per cent growth against 2.2 per cent in 1998-99.

Leather and fur products, paper and paper products, printing, publishing and allied industries, machinery and equipment and non-metallic mineral products recorded double digit growth. Transport equipment and parts recorded a negative growth of 16.4 per cent.

Beverages, tobacco and related products recorded a growth rate of 9.9 per cent while cotton textiles posted a 3.5 per cent growth. Wool, silk and manmade fibre textiles also recorded a 9.9per cent growth.

Rubber, plastic, petroleum and coal products recorded a 5.6 per cent growth, food products (-3.4 per cent), basic metal and alloy industries 0.9 per cent and textile products 0.2 per cent.