Industrial output up by 8.3 pc in Jan

New Delhi, Mar 10 (UNI) Industrial production was up by a robust 8.3 per cent in January 2006 compared to the same month last year, with manufacturing growing by a heafty 9.2 per cent, catapulting the industrial index.

Manufacturing, which constitutes 75 per cent of the weight of the IIP, was a mere 5.9 per cent in December, and the steep pick up stoked hopes that recovery was well under way and the economy would end up with a growth rate of 8 per cent plus in 2005-06.

Mines grew by a dismal 0.2 per cent, and the electricity sector picked up pace, registering a growth of 5.8 per cent in January y-on-y basis.

The cumulative growth Apr-Jan 2005-06 over the corresponding period of 2004-05 was 8 per cent.

Mining, manufacturing and electricity in this quarter registered an average growth rate of 0.5 per cent, 9 per cent and 4.9 per cent, respectively.

January capital goods output, was up 26.3 per cent in January 2006, while output of consumer goods, including vehicles and televisions, rose 7.2 per cent.

The CSO data relating to the Quick Estimates of Index of Industrial Production (IIP) with base 1993-94 has been recently revised, with analysts saying that this might have resulted in an upward bais in the IIP.

In terms of industries, 12 out of the 17 industry groups (as per 2- digit NIC-1987) showed positive growth during January 2006 compared to the corresponding month of the previous year.

UNI YJ VD HT1842