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 July 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 July 2013 over the corresponding month of the previous year is 2.6%. The three sectors that constitute the index are Mining, Manufacturing and Electricity. The monthly growth rates of these three sectors for the month are (-) 2.3%, 3.0% and 5.2% respectively. The Minister further added that as per “use-based” classification there has been positive growth in basic goods (1.7%), capital goods (15.6%), intermediate goods (2.4%) and consumer non-durables (6.8%) whereas negative growth has been registered in consumer durables [(-) 9.3%].

Index of Industrial Production indicates year on year industrial growth with divergent sectoral and use based performance. Release of monthly Quick Estimates of the Index of Industrial Production for July 2013 reporting overall year on year industrial growth of 2.6%. The Index comprises Mining, Manufacturing and Electricity; Mining contracted while Manufacturing and Electricity expanded, with sectoral monthly growth rates provided. The statement also reports use based classification movements showing positive growth in Basic Goods, Capital Goods, Intermediate Goods and Consumer Non Durables, and negative growth in Consumer Durables.