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Industry looks up in December

New Delhi, Feb. 11: Industrial production rose to just above five per cent in December 2002 from a poor three per cent in the same month in the previous year.

Going by the quick estimates of the index of industrial production (IIP) released by the Central Statistical Organisation (CSO), the rise in production is attributed mostly to the manufacturing sector, which accounts for nearly 80 per cent of weightage in the (IIP).

The manufacturing sector posted a rise of 5.3 per cent in the month under review over three per cent in the corresponding month of December 2001. Electricity sector, however, registered a dip of 2.5 per cent in December 2002 over 4.2 per cent in the comparable month a year ago.

All the sectors, except consumer durables and consumer goods, contributed to the improved industrial performance in the month under consideration.

Cumulative industrial growth (April-December 2002-03) stood at 5.3 per cent against 2.5 per cent during the same period in 2001-02.

Cumulative growth in the manufacturing sector surged by 5.4 per cent during the April-December period over 2.7 per cent growth during the corresponding period in the previous year.

The electricity sector jumped by 3.8 per cent during December 2002 as against 2.8 per cent during April-December 2001-02. The mining sector improved by 4.6 per cent, up from 1.8 per cent in the month of December, while the cumulative growth in the mining sector registered a robust 5.6 per cent against 0.9 per cent over the comparable period of April-December.

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