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Journalism of Courage
Industry grew at the rate of 6.9 per cent during the year 2003-04. According to the quick estimates of the Central Statistical Organisation (CSO), industry clocked a growth rate of 6.9 per cent in 2003-04 as compared to 5.7 per cent recorded during 2002-03.
The high growth has been largely aided by a 7.2 per cent growth in the manufacturing sector and a five per cent growth in the electricity sector, the CSO said. The growth rate during March, the last month of 2003-04 financial year, is estimated at 6.7 pc as against 5.9 pc during the same period of last year.
The quick estimates of index of industrial production (IIP) with base 1993-94 also revealed that the indices for mining, manufacturing and electricity sectors for the month of March, 2004, stood at 3.8 pc, 6.7 pc and 10.1 pc respectively as compared to March 2003.
The cumulative growths during April-March, 2003-04, over the corresponding period of 2002-03 in these three sectors have been 5.1 pc, 7.2 pc and 5.0 pc respectively.
As many as 11 of the 17 two-digit industry groups have shown positive growth during the month of March, 2004, as compared to the corresponding month of the previous year.
Machinery and equipment other than transport equipment have shown the highest growth of 28.6 pc, followed by 20.5 pc in wool, silk and man-made fibre textiles and 17.7 pc in basic chemicals and chemical products (except products of petroleum and coal).
On the other hand, food products have shown a negative growth of 17.9 pc followed by a decline of 14.2 pc in leather and fur products and 4 pc in rubber, plastic, petroleum and coal products during March, 2004, the CSO figures revealed.
