Slow-Down in Industrial Production Growth
Measured in terms of Index of Industrial Production (IIP), there has been a moderation in the growth of industrial production in August, 2011 as compared to the corresponding month of the previous year, as given in the table below:-
August-2010 August-2011
Basic Goods 3.8 5.2
Capital Goods 4.7 4.0
Intermediate Goods 5.8 1.9
Consumer Goods 4.6 2.2
Overall Index 4.5 3.6
Various steps have been taken by the government to boost industrial production which, inter-alia include promotion and facilitation of industrial investment including foreign direct investment, improvement in business environment, development of industrial and other infrastructure through public-private initiatives, development of industry relevant skills etc. Government in November, 2011 also announced a National Manufacturing Policy, which aims at bringing down compliance burden of industry through self-regulation and help industry to become globally competitive.
This information was given by Shri Jyotiraditya M. Scindia, Minister of State for Commerce and Industry in written reply to a question in the Rajya Sabha today.
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