Nov 13, 1999|
Industrial Production revs up
According to the quick estimates recently announced by the Central Statistical Organisation (CSO), the Index of Industrial Production (IIP) grew by a buoyant 7.6% during the month of September. Industrial growth during the first half of the current year has been estimated at 6.4%.
The underlying buoyancy of industrial production can be gauged from the fact that all the categories of industries that form the IIP – mining, manufacturing and electricity, registered a faster rate of growth when compared to the previous year.
Under the use-based classification, all segments except for capital goods (up 9.2%) and non-durables (up 1.6%) have performed better during the current year. The segments that posted strong growth included basic goods (5.1%), intermediate goods (4%), consumer goods (4%) and durables (12.8%).
The performance of the Indian industry during the first half of the year has allayed fears that there is a persistent slow down in the economy. However, the slower growth in the capital goods segment is a cause of worry. This is so because for a sustainable recovery there needs to be a pick up in investment activity.
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