Saturday, May 12, 2007
Industry & Economy - Economy
Industrial output surges by 12.9% in March http://www.thehindubusinessline.com/2007/05/12/stories/2007051205970100.htm Our Bureau
Strong show by manufacturing sector at 14.1%
New Delhi May 11 Industrial production has recorded a growth of 12.9 per cent during March, powered by a 14.1 per cent year-on-year increase in the manufacturing sector.
According to the Index of Industrial Production data released here on Friday by the Central Statistical Organisation, industry on the whole grew by 11.3 per cent during the fiscal ended March 2007 against the corresponding average of 8.2 per cent for 2005-06.
During March 2007, the index for manufacturing rose by 14.1 per cent (10.1 per cent in March 2006), with the corresponding growth rates at 6.2 per cent (2 per cent) for mining and 7.9 per cent (3.4 per cent) in the case of electricity.
For the full fiscal 2006-07, the manufacturing sector grew by 12.3 per cent ( 9.1 per cent in 2005-06), while mining rose 5.1 per cent (1 per cent) and electricity 7.2 per cent (5.2 per cent). As many as 10 out of 17 industry groups showed double-digit growth during the financial year. These include wood and wood products (29.1 per cent), basic metal and alloy industry (22.8 per cent), transport equipment and parts (14.9 per cent), cotton textiles (14.8 per cent) and machinery other than transport (14 per cent).
The other industry groups recording double-digit growth during 2006-07 are non-metallic mineral products (12.8 per cent), rubber, plastics, petroleum and coal products (12.7 per cent), metal products and parts (11.4 per cent) and beverage, tobacco and related products (11.3 per cent).
The sectors that did not perform well during the year are jute and other products excluding cotton (-17.2 per cent) and leather products (0.3 per cent).
Crude output increased by 5.6 per cent in 2006-07 against a fall of 5.3 per cent in 2005-06, Similarly, the output of refineries grew 12.6 per cent during the year compared with 2.4 per cent in 2005-06.
During March 2007, the growth of the core sector stood at 10 per cent against 7.1 per cent in the corresponding month last year. Steel production increased by 15 per cent (10.9 per cent).
Growth in cement production slowed down to 5.5 per cent in March 2007 against a 17 per cent growth in the corresponding month last year. For the full year, the growth was down to 9.1 per cent (12.4 per cent).
Though coal production was up 10 per cent in March, the overall increase in the entire financial year was 5.9 per cent (6.6 per cent). Steel production grew at a marginally slower rate of 10.9 per cent in 2006-07 against 11.2 per cent in 2005-06.
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