Quick Estimates of Index of Industrial production and Use-Based Index for the Month of July, 2012 (Base 2004-05=100)
The Quick Estimates of Index of IndustrialProduction (IIP) with base 2004-05 for the month of July 2012 have beenreleasedby the CentralStatisticsOffice of the Ministry of Statistics andProgramme Implementation. IIP is compiled usingdatareceivedform 16 source agencies viz. Department of Industrial Policy & Promotion (DIPP); IndianBureau of Mines; Central Electricity Authority; JointPlant Committee; Ministry of Petroleum & Natural Gas; Office of TextileCommissioner; Department of Chemicals & Petrochemicals; Directorate of Sugar; Department of Fertilizers; Directorate of Vanaspati, Vegetable Oils & Fats; Tea Board; Office of Jute Commissioner; Office of Coal Controller; Railway Board; Office of SaltCommissioner and Coffee Board.
2. TheGeneralIndexfor the month of July 2012 stands at 167.3, which is 0.1% higher as compared to the level in the month of July 2011. The cumulativegrowth for the period April-July 2012-13 over the corresponding period of the previousyear stands at (-) 0.1%.
3. The Indices of IndustrialProductionfor the Mining, ManufacturingandElectricity sectors for the month of July 2012standat 123.2, 177.1 and 156.3 respectively, with the correspondinggrowthrates of (-)0.7%, (-)0.2% and 2.8% as compared to July 2011 (Statement I). The cumulative growth in the three sectors during April-July 2012-13 over the corresponding period of 2011-12 has been (-) 0.9%, (-) 0.6% and 5.5% respectively.
4. Interms of industries, eight (8) out of the twenty two (22) industrygroups (asper 2-digit NIC-2004) in themanufacturingsectorhave shown positive growthduring the month of July 2012 as compared to the corresponding month of the previous year (Statement II). The industry group ‘Publishing, printing & reproduction of recorded media’ has shown thehighest growth of 17.0%, followed by 12.5% in ‘Machinery and Equipmentn.e.c.’ and 8.3% in ‘Textiles’. On the other hand, the industry group ‘Electric machinery and apparatus n.e.c.’ has shown a negative growth of 12.8% followed by 12.2% in ‘Office, accounting and computing machinery’ and 11.5% in ‘Furniture; manufacturing n.e.c.’.
5. Asper Use-based classification, the growthratesinJuly 2012 over July 2011 are 1.5% in Basicgoods, (-) 5.0% inCapital goodsand (-) 1.1% in Intermediate goods (Statement III). The Consumer durables and Consumer non-durables have recorded growth of 1.4% and 0.1% respectively, with the overall growth in Consumer goods being 0.7%.
6. Some of the important items showing highpositivegrowth are: ‘Antibiotics & its Preparations’ (32.3%), ‘Air Conditioner (Room)’ (117.4%), ‘Plastic Machinery Incl. Moulding Machinery’ (63.0%), ‘Newspapers’ (19.0%), ‘Generator/ Alternator’ (58.1%), ‘CR Sheets’ (23.5%), ‘Lubricating Oil’ (92.1%), ‘Petroleum Coke’ (76.4%), ‘Aerated Waters & SoftDrinks’ (53.7%) and ‘Sealed Compressors’ (75.8%).
7. Some of the other important items showing highnegativegrowthduring the currentmonthover the same month inprevious yearinclude ‘Cable, Rubber Insulated’ [(-) 39.6%], ‘Sponge Iron’ [(-) 23.6%], ‘Fruit Pulp’ [(-) 42.5%], ‘Gems and Jewellery’ [(-) 18.9%], ‘Leather Garments’ [(-) 37.0%], ‘Sugar’ [(-)56.7%], ‘Vitamins’ [(-) 42.2%], ‘Fasteners (Excl. Zip Fasteners)’ [(-) 20.2%], ‘Ship Building & Repairs’ [(-) 37.8%], ‘Biscuits’ [(-) 21.0%] and ‘Grinding Wheels’ [(-) 20.5%].
8. Along with the Q.E. of IIP for the month of July 2012, the indices for June 2012 have undergone the firstrevisionandthose for April 2012 have undergone the final revision in the light of the updated datareceivedfrom the source agencies. Itmaybenoted that these revised indices (first revision) in respect of June 2012 shall undergo final (second) revision along with the release of IIP for the month of September 2012.
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 July 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 July’12 over the corresponding month of the previous year is 0.1%. The three sectors that constitute the index are Mining, Manufacturing and Electricity. The monthly growth rates of these three sectors for the month are (-)0.7%, (-)0.2% and 2.8% respectively. The Minister further added that as per “use-based” classification there have been negative growths in capital goods (-5.0%) and intermediate goods (-1.1%) whereas positive growths have been achieved in basic goods (1.5%), consumer durables (1.4%) and consumer non-durables (0.1%).