Industry rebounds with 6.4% growth

The index of industrial production (IIP) touched 6.4 per cent in February 2003 compared to 2.4 per cent registered in the same month last ye...

The index of industrial production (IIP) touched 6.4 per cent in February 2003 compared to 2.4 per cent registered in the same month last year owing to a robust growth in the manufacturing and mining sectors.

In April-Feb 2002-03, the IIP registered a 5.7 per cent growth against 2.6 per cent posted in the same period the previous year. This is largely in line with the 5.8 per cent growth for the industrial sector projected in the advanced estimates for 2002-03.

According to figures released by the Central Statistical Organisation (CSO), the manufacturing sector grew by 6.5 per cent in February 2003 compared to 2.9 per cent in February 2002. Mining, too, registered a high growth of 7.2 per cent against 2.1 per cent posted in February 2002. The electricity sector, however, registered a growth of just 0.1 per cent in February 2003 compared to 2.9 per cent in the same month last year.

In April-Feb 2002-03, the manufacturing sector registered a growth of 5.8 per cent against 2.8 per cent in the comparable period of 2001-02. The mining and electricity sectors grew at 5.7 per cent and 3.5 per cent, respectively, in April-February 2002-03 against 1.1 per cent and 2.9 per cent posted in the same period the previous year. In the use-based category, basic goods grew by 4.9 per cent in February 2003 against 3.6 recorded in February 2002.