Industrial growth up by 11% during April-June
The manufacturing sector grows by 11.9 per cent during the first quarter of the current financial year, reports Gaurav Choudhury.business Updated: Aug 10, 2007 21:38 IST
The manufacturing sector grew by 11.9 per cent during the first quarter of the current financial year, pushing the overall industrial growth rate to 11 per cent during the April-June period.
The quick estimates of the index of industrial production (IIP) released by the Central Statistical Organisation (CSO) showed that the industrial growth in June increased marginally to 9.8 per cent, a marginal increase over the 9.7 per cent during the same month last year.
The manufacturing sector during the first quarter grew by 11.9 per cent compared with 11.7 per cent in the same period last year. Power generation during the quarter went up 8.3 per cent against 5.3 per cent in the year-ago period. The growth in the mining sector, however, fell to 3.2 per cent in the first quarter of this year against 3.6 per cent in the corresponding period of the previous year.
During June, the manufacturing sector grew 10.6 per cent against 10.7 per cent last year, while mining and electricity recorded growth rates of 3.6 per cent and 6.8 per cent, respectively, compared with 4.7 per cent and 4.9 per cent in June 2006.
According to the use-based classification of IIP, the capital goods sector recorded a high growth of 22.3 per cent in the first quarter against 21 per cent in the same period last year.
The growth of consumer durables sector fell sharply to three per cent in the first quarter against 15 per cent in the same quarter last year.
The basic goods sector grew 9.5 per cent during the April- June period this year against 9 per cent in the previous year.