Long haul before industry grows at robust pace
Updated: Aug 13, 2014 12:35:30pm
New Delhi, Aug 13 (KNN) To the disappointment of the industry, the factory output growth in June remained subdued at 170.5 and several of the key industries like radio, TV and communication equipment, computing machinery and furniture remained in the negative zone making it clear that a lot more needs to be done to turn the corner and take economic activity to a higher platform.
The Quick Estimates of Index of Industrial Production (IIP) with base 2004-05 for the month of June 2014 have been released by the Central Statistics Office of the Ministry of Statistics and Programme Implementation, in an official release yesterday.
“The General Index for the month of June 2014 stands at 170.5, which is 3.4 per cent higher as compared to the level in the month of June 2013. The cumulative growth for the period April-June 2014-15 over the corresponding period of the previous year stands at 3.9 per cent,” it said.
The Indices of Industrial Production for the Mining, Manufacturing and Electricity sectors for the month of June 2014 stand at 121.5, 178.2 and 181.6 respectively, with the corresponding growth rates of 4.3 per cent, 1.8 per cent and 15.7 per cent as compared to June 2013. The cumulative growth in the three sectors during April-June 2014-15 over the corresponding period of 2013-14 has been 3.2 per cent, 3.1 per cent and 11.3 per cent respectively.
In terms of industries, 15 out of the 22 industry groups in the manufacturing sector have shown positive growth during the month of June 2014 as compared to the corresponding month of the previous year.
Industry groups showing highest positive growth are Electrical machinery and apparatus (69.2 per cent), followed by luggage, handbags, saddlery, harness and footwear; tanning and dressing of leather products (10.3 per cent), and other non-metallic mineral products (9.8 per cent).
On the other hand, the industry groups showing the highest negative growth are Radio, TV and communication equipment and apparatus (-) 62.9 per cent, followed by office, accounting and computing machinery (-) 60.5 per cent and furniture; manufacturing (-) 13.4 per cent.
As per Use-based classification, the growth rates in June 2014 over June 2013 are 9.0 per cent in Basic goods, 23.0 per cent in Capital goods and 2.7 per cent in Intermediate goods. The Consumer durables and Consumer non-durables have recorded growth of (-) 23.4 per cent and 0.1 per cent respectively, with the overall growth in Consumer goods being (-) 10.0 per cent.
Some of the important items showing high positive growth during the current month over the same month in previous year include Copper and Copper Products (212.2 per cent), Cable, Rubber Insulated (211.6 per cent), Vitamins (103.0 per cent), Relays, Fuses and Switchgears (65.0 per cent), Ayurvedic Medicaments (64.5 per cent), Air Conditioner (Room) (33.2 per cent), Stainless/ alloy Steel (28.8 per cent), Scooter and Mopeds (27.3 per cent) and Biaxially Oriented Polypropylene (BOPP) film (24.7 per cent).
Some of the other important items showing high negative growth are: Sugar (-) 73.7 per cent, Telephone Instruments (including Mobile Phones and Accessories) (-) 71.3 per cent, Computers (-) 66.1 per cent, Aluminium Conductor (-) 48.7 per cent, Wood Furniture (-) 32.9 per cent, Woollen Carpets (-) 31.0 per cent, Earth Moving Machinery (-) 29.4 per cent, Boilers (-) 26.9 per cent, Gems and Jewellery (-) 26.5 per cent and Lubricating Oil (-) 25.6 per cent.
IIP is compiled using data received from 16 source agencies namely, Department of Industrial Policy and Promotion (DIPP); Indian Bureau of Mines; Central Electricity Authority; Joint Plant Committee; Ministry of Petroleum and Natural Gas; Office of Textile Commissioner; Department of Chemicals and Petrochemicals; Directorate of Sugar; Department of Fertilizers; Directorate of Vanaspati, Vegetable Oils and Fats; Tea Board; Office of Jute Commissioner; Office of Coal Controller; Railway Board; Office of Salt Commissioner and Coffee Board. (KNN/ES)
The Quick Estimates of Index of Industrial Production (IIP) with base 2004-05 for the month of June 2014 have been released by the Central Statistics Office of the Ministry of Statistics and Programme Implementation, in an official release yesterday.
“The General Index for the month of June 2014 stands at 170.5, which is 3.4 per cent higher as compared to the level in the month of June 2013. The cumulative growth for the period April-June 2014-15 over the corresponding period of the previous year stands at 3.9 per cent,” it said.
The Indices of Industrial Production for the Mining, Manufacturing and Electricity sectors for the month of June 2014 stand at 121.5, 178.2 and 181.6 respectively, with the corresponding growth rates of 4.3 per cent, 1.8 per cent and 15.7 per cent as compared to June 2013. The cumulative growth in the three sectors during April-June 2014-15 over the corresponding period of 2013-14 has been 3.2 per cent, 3.1 per cent and 11.3 per cent respectively.
In terms of industries, 15 out of the 22 industry groups in the manufacturing sector have shown positive growth during the month of June 2014 as compared to the corresponding month of the previous year.
Industry groups showing highest positive growth are Electrical machinery and apparatus (69.2 per cent), followed by luggage, handbags, saddlery, harness and footwear; tanning and dressing of leather products (10.3 per cent), and other non-metallic mineral products (9.8 per cent).
On the other hand, the industry groups showing the highest negative growth are Radio, TV and communication equipment and apparatus (-) 62.9 per cent, followed by office, accounting and computing machinery (-) 60.5 per cent and furniture; manufacturing (-) 13.4 per cent.
As per Use-based classification, the growth rates in June 2014 over June 2013 are 9.0 per cent in Basic goods, 23.0 per cent in Capital goods and 2.7 per cent in Intermediate goods. The Consumer durables and Consumer non-durables have recorded growth of (-) 23.4 per cent and 0.1 per cent respectively, with the overall growth in Consumer goods being (-) 10.0 per cent.
Some of the important items showing high positive growth during the current month over the same month in previous year include Copper and Copper Products (212.2 per cent), Cable, Rubber Insulated (211.6 per cent), Vitamins (103.0 per cent), Relays, Fuses and Switchgears (65.0 per cent), Ayurvedic Medicaments (64.5 per cent), Air Conditioner (Room) (33.2 per cent), Stainless/ alloy Steel (28.8 per cent), Scooter and Mopeds (27.3 per cent) and Biaxially Oriented Polypropylene (BOPP) film (24.7 per cent).
Some of the other important items showing high negative growth are: Sugar (-) 73.7 per cent, Telephone Instruments (including Mobile Phones and Accessories) (-) 71.3 per cent, Computers (-) 66.1 per cent, Aluminium Conductor (-) 48.7 per cent, Wood Furniture (-) 32.9 per cent, Woollen Carpets (-) 31.0 per cent, Earth Moving Machinery (-) 29.4 per cent, Boilers (-) 26.9 per cent, Gems and Jewellery (-) 26.5 per cent and Lubricating Oil (-) 25.6 per cent.
IIP is compiled using data received from 16 source agencies namely, Department of Industrial Policy and Promotion (DIPP); Indian Bureau of Mines; Central Electricity Authority; Joint Plant Committee; Ministry of Petroleum and Natural Gas; Office of Textile Commissioner; Department of Chemicals and Petrochemicals; Directorate of Sugar; Department of Fertilizers; Directorate of Vanaspati, Vegetable Oils and Fats; Tea Board; Office of Jute Commissioner; Office of Coal Controller; Railway Board; Office of Salt Commissioner and Coffee Board. (KNN/ES)
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