June 10, 2011 1:25 PM

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Industrial Production records 6.3% growth in April

Industrial production in the country registered a growth of 6.3 per cent in April, according to the official data released today with a base year of 2004-05 . The data says, manufacturing growth in April stood at 6.9 per cent, while mining and electricity production was up 2.2 per cent and 6.4 per cent, respectively. Capital goods also registered a growth of 14.5 per cent and overall consumer goods were up by 2.9 per cent in April as per the series with a base year of 2004-05.But, factory output dropped to just 4.4 per cent owing to poor performance of the manufacturing and mining sectors .As per the old series, growth in manufacturing, which constitutes about 80 per cent of the index weight, dropped to 4.4 per cent in April from a high of 18 per cent in the same month last year. Our correspondent reports, production trends for 100 new items, including ice cream, fruit juice and mobile phones, have been included for measuring the pace of industrial production in the new index series, which was recently approved by the government.The base year for the new series is 2004-05 as against 1993-94 for the old one. The Department of Industrial Promotion and Policy (DIPP) and Central Statistical Organisation (CSO) jointly worked on the new index. Economists say, the new IIP series is expected to help policymakers and market participants forecast economic trends.

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