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Industrial growth up at 6.9% in FY04

May 12, 2004 15:10 IST
Last Updated: May 12, 2004 15:48 IST

The industrial growth was pegged at 6.9 per cent during 2003-04 as against 5.7 per cent in 2002-03, according to estimates released by the Central Statistical Organisation.

The high growth has been largely aided by a 7.2 per cent growth in the manufacturing sector and a 5 per cent growth in the electricity sector, the CSO said.

The growth rate during March, the last month of 2003-04 financial year, is estimated at 6.7 per cent as against 5.9 per cent during the same period of the last year.

The quick estimates of Index of Industrial Production with base 1993-94 also revealed that the indices for mining, manufacturing and electricity sectors for the month of March, 2004, stood at 3.8 per cent, 6.7 per cent and 10.1 per cent, respectively as compared to March 2003.

The cumulative growths during April-March, 2003-04, over the corresponding period of 2002-03 in these three sectors have been at 5.1 per cent, 7.2 per cent and 5 per cent, respectively.

As many as 11 of the 17 two-digit industry groups have shown positive growth during March, 2004, as compared to the corresponding month of the previous year.

'Machinery and equipment other than transport equipment' have shown the highest growth of 28.6 per cent, followed by 20.5 per cent in 'wool, silk and man-made fibre textiles' and 17.7 per cent in 'basic chemicals and chemical products' (except products of petroleum and coal).

On the other hand, food products have shown a negative growth of 17.9 per cent followed by a decline of 14.2 per cent in 'Leather and leather and fur products and 4 per cent in 'rubber, plastic, petroleum and coal products' during March, 2004, the CSO figures revealed.

As per the use-based classification, the growth in March, 2004 over March 2003 is 5.7 per cent in basic goods, 17 per cent in capital goods and 4.5 per cent in intermediate goods.

The consumer durables and consumer non-durables have recorded a growth of 20.3 per cent and 2.4 per cent, respectively, with the overall growth in consumer goods being 6.2 per cent, during the period under review.

Among the two digit industry groups, the food products category registered a negative 0.2 per cent growth during the whole of the last financial year as against a negative 17.9 per cent during March 2004.

While the beverages, tobacco and related products recorded a decline in growth to 9.4 per cent during the whole of last financial year as against 11.8 per cent during March 2004 alone, the wool, silk and man-made fibre textiles (except cotton) registered a 6.2 cent growth during 2003-04 as against 20.5 per cent during March, 2004 alone.

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