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Power, mining slow down industrial growth to 6.7%
By agencies
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Monday, 12 September 2005, 19:30 IST
NEW DELHI: A sharp slowdown in electricity and mining sectors lowered the overall growth in industrial production to 6.7 percent during July 2005 as against 8.5 percent in the same month last fiscal.
On a cumulative basis, however, the Index of Industrial Production for the first four months this fiscal grew by a higher 9.3 percent as compared to 7.9 percent in April-July 2004, according to the official figures released today.
Electricity sector growth plummeted to a negative 1.2 percent during the month from an impressive 13.7 percent in July 2004. Mining sector also posted a negative 0.4 percent growth in July 2005 as against 4.2 percent in the same month a year ago.
Growth in manufacturing, which has the highest weight in the IIP basket, too remained flat at 8.3 percent in July as against 8.4 percent in July 2004.
The slowdown comes after strong double-digit growth in May and June when industrial production rose 10.8 percent and 11.7 percent respectively.
During April-July this year, manufacturing sector grew by 10.4 percent as compared to 8.2 percent during the same period in 2004-05.
The growth in electricity sector was slower at 5.3 percent in April-July this year against 7.9 percent in the year-ago period. The growth in the mining sector also dipped to 3.1 percent during April-July 2005 compared to 5.3 percent during the year-ago period.