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Our Bureau

New Delhi, Sept. 12 High growth in production of capital goods and consumer durables in July 2008 pulled up the Index of Industrial Production (IIP) to a five month high of 7.1 per cent, though it still remained lower compared with 8.3 per cent growth recorded in July 2007.

For the April-July period, first four months of the current financial year, the overall growth in IIP stood at 5.7 per cent against 9.7 per cent registered in the same period last fiscal.

The IIP growth rate for March, April, May and June were 3 per cent, 7 per cent, 3.8 per cent and 5.4 per cent, respectively.

Capital goods production improved by 21.9 per cent during July 2008, against 12.3 per cent in the same month last year.

The consumer durables sector grew by 11.2 per cent against a negative growth of 2.7 per cent.

The growth in the production of consumer non-durables, however, went down to 6.1 per cent during the month against 10.5 per cent a year ago, taking the overall growth rate in the consumer goods sector to 7.3 per cent, marginally higher than 7.1 per cent in July 2007.

Production of basic goods and intermediate goods suffered setbacks during the month.

The growth in basic goods output went down to 5.9 per cent as against 8.7 per cent, while intermediate goods production grew by a meagre 1.6 per cent compared to 7.7 per cent.

Mining output went up by 5 per cent compared to 3.2 per cent in July 2007, but the manufacturing sector and power generation slowed down.

Manufacturing output went down to 7.5 per cent in this July, compared to 8.8 per cent a year ago.

The growth in power generation stood at 4.5 per cent, as against 7.5 per cent in the corresponding period last year.

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