Sluggish manufacturing, mining sectors pull IIP down

IIP falls to 5.6 percent in May from 8.5 percent in the same month last year

PTI | July 12, 2011



Indicating sluggishness in the economy, industrial growth fell to 5.6 per cent in May this year from 8.5 per cent in the same month last year, mainly due to the poor performance of the manufacturing and mining sectors.

Factory output in the month of April, as measured in terms of the index of industrial production (IIP), has also been revised downward to 5.7 per cent from the earlier estimate of 6.3 per cent, as per the new series with a base year of 2004-05.

According to data released here, industrial growth in April-May this year averaged 5.7 per cent, compared to 10.8 per cent in the same period last year.

The manufacturing sector, which accounts for over 75 per cent of the total weight of the index, grew by just 5.6 per cent in May, 2011, as against 8.9 per cent in the same month of 2010.

Similarly, the mining sector grew by a meagre 1.4 per cent in May, 2011, as against 7.9 per cent in the same month last year.

Another area of concern was poor offtake of capital goods, which grew by just 5.9 per cent during the month under review as compared to 15.8 per cent in the corresponding period of the previous year.

Growth in output of intermediate goods also registered a sharp decline to 0.9 per cent in May from 11.7 per cent in the corresponding year-ago period.

Overall, consumer goods saw lower growth of 5.4 per cent in May, 2011, as against 7.4 per cent in May, 2010.

The IIP performance is even worse as per the old series of index, with a base year of 1993-94, which recorded industrial growth at 3.6 per cent in May, 2011, as against 12.2 per cent in the same month last year.

The new series with a 2004-05 base was introduced in April.

Comments

 

Other News

Doctors, experts call for ban on junk food ads, mandate warning labels

More than 30 doctors, medical scientists and public health professionals have urged the government to take decisive action against the aggressive advertising and marketing of junk food, calling for a watershed ban on advertisements for foods high in fat, sugar and salt (HFSS) and ultra-processed foods (UPF

Asiatic Lion population rises from 523 in 2015 to 891 in 2025

On World Lion Day 2026, environment, forest and climate change Minister  Bhupender Yadav celebrated India’s remarkable journey in lion conservation and reaffirmed the country’s unwavering commitment to protecting wildlife and biodiversity.   In a post on soc

Railways imposed ₹5.13 crore fine for food quality and hygiene violations

Indian Railways serve about 58 crore meals every year on an average. About only 0.0008% food quality related complaints are received on average. Based on complaints during the last three years, appropriate penal actions have been taken by IRCTC. Such actions include imposition of fines amounting to ₹5.13

STHAVAR: Why every Indian built asset needs a permanent digital identity

India has built digital systems for identity, payments, taxation, documents, logistics and public services. State governments, ministries, infrastructure agencies and urban local bodies have also created portals for land records, building permissions, project monitoring, property taxation and municipal s

Saksham Skill census identifies 22,000 job-ready candidates in one Mumbai ward

A first-of-its-kind AI-enabled skill census conducted in Mumbai`s H-West Ward has identified a potential livelihood pipeline of nearly 22,000 candidates, generated over 32,000 provisional job matches while revealing that 71.2 per cent of surveyed homemakers are willing to join the workforce, according to

GI tags: Scaling traditional wealth into global brands

Geographical Indication (GI) tags have emerged as a powerful tool for protecting India`s cultural heritage, while creating economic opportunities for local communities. By linking products to their place of origin, GI tags preserve traditional knowledge, prevent misuse, and enhance consumer trust. They h

Upcoming Conferences



-->

Archives

Current Issue

Opinion

Facebook Twitter Google Plus Linkedin Subscribe Newsletter

Twitter