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New Delhi, Nov 12 (IBNS) Recording a weak performance, India's industrial production declined by 0.4 percent in Sept 2012 compared to the corresponding month last year, according to official data released on Monday.
The General Index for the month of Sept 2012 stands at 163.6, which is 0.4% lower as compared to the level in the month of Sept 2011. The cumulative growth for the period April-Sept 2012-13 over the corresponding period of the previous year stands at 0.1%, according to the
Quick Estimates of Index of Industrial Production (IIP) with base 2004-05 for the month of Sept 2012 released by the Central Statistics Office of the Ministry of Statistics and Programme Implementation.
IIP is compiled using data received from 16 source agencies viz. Department of Industrial Policy &Promotion (DIPP); Indian Bureau of Mines; Central ElectricityAuthority; Joint Plant Committee; Ministry of Petroleum & NaturalGas; Office of Textile Commissioner; Department of Chemicals & Petrochemicals; Directorate of Sugar; Department of Fertilizers; Directorate of Vanaspati, Vegetable Oils & Fats; Tea Board; Office of Jute Commissioner; Office of Coal Controller; Railway Board; Office of Salt Commissioner and Coffee Board.
The Indices of Industrial Production for the Mining,Manufacturing and Electricity sectors for the month of September 2012 stand at 114.8, 174.7 and 149.7 respectively, with thecorresponding growth rates of 5.5%, (-)1.5% and 3.9% as compared to Sept 2011. The cumulative growth in the three sectors during April-September 2012-13 over the corresponding period of 2011-12 has been 0.0%, (-) 0.4% and 4.6% respectively.
In terms of industries,12 out of the 22 industry groups (as per 2-digit NIC-2004) in the manufacturingsector have shown positive growth during the month of Sept 2012 as compared to the corresponding month of the previous year.
The industry group ‘Publishing, printing &reproduction of recorded media’ has shown the highest growth of 16.5%, followed by 14.3% in ‘Wearing apparel; dressing and dyeing of fur’ and 7.5% in ‘Coke, refined petroleum products & nuclear fuel’. On the other hand, the industry group ‘Office,accounting and computing machinery’ has shown a negative growth of 30.7% followed by 23.6% in ‘Tobacco products’ and 19.4% in ‘Electrical machinery & apparatus n.e.c.’.
As per Use-based classification, the growth rates in Sept 2012 over Sept 2011 are 3.5% in Basic goods, (-) 12.2% in Capital goods and 1.8% in Intermediate goods. The Consumer durables and Consumer non-durables have recorded growth of (-) 1.7% and 1.1% respectively, with the overall growth in Consumer goods being (-) 0.3%.
Some of the important items showing high negative growthduring the current month over the same month in previous year include ‘Cable, Rubber Insulated’ [(-) 56.3%], ‘Gems and Jewellery’ [(-) 21.9%], ‘Sponge Iron’ [(-) 17.8%], ‘Stainless/alloy steel’ [(-) 24.3%], ‘Heat exchangers’ [(-) 47.2], ‘Cigarettes’ [(-) 27.4%], ‘Plastic Machinery incl. moulding machinery’ [(-) 24.6%], ‘Rice’ [(-) 24.1%], ‘Computers’ [(-) 31.1%], ‘Ayurvedic Medicaments’ [(-) 30.2%], ‘Cement Machinery’ [(-) 57.7%] and ‘Razor blades/safety blades’ [(-)18.1%].
Some of the other important items showing high positive growth are: ‘Conductor, Aluminium’ (49.7%), ‘Carbon Steel’ (26.7%), ‘Tea’ (34.3%), ‘Leather Garments’ (44.0%), ‘Sugar Machinery’ (79.2%), ‘C.R. Sheets’ (22.1%), ‘Coir mats and mattings’ (231.2%), ‘Sugar (including sugar cubes)’ (132.9%), and ‘Pressure Cooker’ (18.6%).
Along with the Q.E. of IIP for the month of Sept 2012, the indices for Aug 2012 have undergone the first revision and those for June 2012 have undergone the final revision in the light of the updated data received from the source agencies. It may be noted that these revised indices (first revision) in respect of Aug 2012 shall undergo final (second) revision along with the release of IIP for the month of Nov 2012.