Industrial growth up 9.4 pc in April

The UPA government8217;s target of attaining a higher growth rate for the economy received a shot in the arm with industrial growth shooting up to 9.4 per cent in April 2004, after an impressive 6.9 per cent growth recorded during 2003-04.

The industry, which was struggling with a meagre 4.2 per cent growth in April last year and came out of slump with a 6.9 per cent rise in output during 2003-04, logged near double-digit growth after the revival of the manufacturing sector, especially in capital goods.

The index of industrial production IIP went up by 9.4 per cent mainly on account of impressive performance by manufacturing, electricity and mining sectors.

According to the data released by the Central Statistical Organisation CSO, electricity generation was up by 10.7 per cent in April, while manufacturing staged 9.2 per cent growth. Mining activities witnessed a 9.5 per cent growth. Capital goods clocked a whopping 23.2 per cent in April, which is an indication of the upturn in industrial growth.