core sector communique

Statement of Srikant Kumar Jena

Shri Srikant Kumar Jena, Minister of State (Independent charge), Ministry of Statistics & Programme Implementation announced the release of the monthly Quick Estimates of Index of Industrial Production (IIP) for the month of May 2012 compiled by the Central Statistics Office. The index is a composite indicator that measures the short term changes in the volume of industrial production. According to the index, the industrial growth for the month of May’12 over the corresponding month of the previous year is 2.4%. The three sectors that constitute the index are Mining, Manufacturing and Electricity. The monthly growth rates of these three sectors for the month are (-)0.9%, 2.5% and 5.9% respectively. The Minister further added that as per “use-based” classification there has been negative growth in capital goods (-7.7%) and positive growth has been achieved in basic goods (4.1%), intermediate goods (2.7%), consumer durables (9.3%) and consumer non-durables (0.1%).