The Hindu : Business : Industrial growth at 11 p.c. in Q1

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Saturday, Aug 11, 2007
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Industrial growth at 11 p.c. in Q1

Special Correspondent

Manufacturing sector drives growth; electricity generation up 8.3 p.c.

NEW DELHI: Aided by the buoyancy in manufacturing, industrial production grew by 11 per cent in the first quarter of the current financial year against 10.5 per cent growth witnessed in the same period a year ago.

According to the quick estimates of the Index of Industrial Production (IIP) released by the Central Statistical Organisation (CSO) here on Friday, industrial growth in June, however, saw only a marginal increase to 9.8 per cent from 9.7 per cent in the same month in the previous year. The double-digit growth during the quarter is expected to have a positive impact, in keeping with the projections of the Prime Minister’s Economic Advisory Council (EAC), which expects the economy to achieve a growth of nine per cent during the fiscal year.

During the quarter, the manufacturing sector posted a growth of 11.9 per cent as compared to 11.7 per cent in the same period in the previous fiscal, while electricity generation increased by 8.3 per cent as compared to 5.3 per cent. The poor performer was the mining sector, with its growth decelerating to 3.2 per cent from 3.6 per cent during April-June 2006-07.

As for June, while electricity generation grew by 6.8 per cent as compared to 4.9 per cent during the same month last year, the manufacturing and mining sectors recorded lower growth. Against its trend, the growth in the manufacturing sector slipped a tad to 10.6 per cent from 10.7 per cent in June 2006, while that in mining decelerated to 3.6 per cent from 4.7 per cent.

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