The Hindu Business Line : Industrial growth slips to 5.4 per cent in Oct

As per the quick estimates of Index of Industrial Production (IIP) released by the Central Statistical Organisation, while mining grew by 2.1 per cent (against 4.2 per cent last year), manufacturing grew by 6.2 per cent (7.3 per cent) and electricity sector by 1.6 per cent (7.1 per cent).

The cumulative growth during April-October 2003-04 over the corresponding period of 2002-03 in the three sectors has been 3.9 per cent, 6.5 per cent and 2.8 per cent respectively, with the overall growth in the General Index being 5.9 per cent. In the same period last, while the overall index grew by 5.6 per cent, mining grew by 6.2 per cent, manufacturing by 5.8 per cent and electricity sector by four per cent.

Along with the quick estimates of IIP for October 2003, the indices for September 2003 have undergone the first revision and those for July 2003, the second (final) revision in the light of the updated data received from the source agencies. There are no significant revisions in the indices.

Twelve of the 17 two-digit industry groups have shown positive growth during October as compared to the corresponding month of the previous year. `Paper & paper products and printing, publishing & allied industries' have shown the highest growth of 27.8 per cent, followed by 26.7 per cent in `wood and wood products; furniture and fixtures' and 16.1 per cent in `basic metal and alloy industries'.

On the other hand, `jute and other vegetable fibre textiles (except cotton)' have shown a negative growth of 8.8 per cent followed by 8.4 per cent in `cotton textiles' and 2.8 per cent in `rubber, plastic, petroleum and coal products'.

As per use-based classification, the growth in October 2003 over October 2002 is 4.7 per cent in basic goods, 4.6 per cent in capital goods and 4.2 per cent in intermediate goods. The consumer durables and consumer non-durables have recorded growth of 7.5 per cent and 7.4 per cent respectively, with the overall growth in consumer goods being 7.4 per cent.

For April-October, the growth rate for basic goods worked out to 4.6 per cent, while 8.1 per cent for capital goods, 4.6 per cent for intermediate goods and 8.2 per cent for consumer goods.

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