Statement of Srikant Kumar Jena on Index of Industrial Production

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 August 2013 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 August 2013 over the corresponding month of the previous year is 0.6%. The three sectors that constitute the index are Mining, Manufacturing and Electricity. The monthly growth rates of these three sectors for the month are (-) 0.2%, (-) 0.1% and 7.2% respectively. The Minister further added that as per “use-based” classification there has been positive growth in basic goods (1.5%), intermediate goods (3.6%) and consumer non-durables (5.0%) whereas negative growth has been registered in capital goods [(-) 2.0%] and consumer durables [(-) 7.6%].