New Delhi, Sep 12 : Industrial growth fell to a meagre 3.3 per cent in July this year on account of poor performance mainly by capital goods, manufacturing and mining sectors,reflecting sluggishness in the economy.
Growth in the factory output, as measured in terms of the Index of Industrial Production (LIP), had stood at 9.9 per cent in July last year.During the April-July period of this fiscal, IIP growth stood at 5.8 per cent, as against 9.7 per cent in the corresponding four-month period last year.
Output of the manufacturing sector, which constitutes over 75 per cent of the index, grew by only 2.3 per cent in July compared to 10.8 per cent expansion in the same month last year, according the official data released today. Production of capital goods declined by 15.2 per cent in July, in comparison to a growth of 40.3 per cent in the same month of 2010.
The growth in mining production was 2.8 per cent in the month, down from 8.7 per cent in the same month last year. Production of intermediate goods fell by 1.1 per cent during the month under review against a growth of 8.5 per cent in July 2010.Consumer durables grew by 8.6 per cent in July as compared to a growth of 14.8 per cent in the corresponding month of last year.
However, electricity production improved witnessing a growth of 13.1 per cent in July this year as against a growth of 3.7 per cent in July, 2010. PTI
