Uttar Pradesh’s industrial output dipped sharply by 12.39 per cent in December 2019 over the corresponding month during the last financial year 2018-19.
This is a significant contraction in the state’s industrial production considering comparatively lower dips of 9.6 per cent and 3.8 per cent in October and November 2019, respectively.
Given the fact that the Adityanath government wants UP to become a trillion-dollar economy, this contraction calls for proactive steps to boost the industrial sector.
In comparison, India’s aggregate industrial output had contracted by 0.3 per cent in December 2019 after logging growth of 1.8 per cent in November 2019 according to the Index of Industrial Production (IIP) data released by the Central Statistics Office (CSO).
According to the Quick Estimates of IIP on base year 2011-12 released by the Economics and Statistical Division of the UP Planning Institute, the state’s general industrial index of December 2019 with base year 2011-12 (=100) stood at 119.18, which is (-) 12.39 per cent compared to December 2018.
Meanwhile, the indices of industrial production for the mining, manufacturing and electricity sectors stood at 64.92, manufacturing sector 127.72 and electricity sector 112.80, with corresponding growth rates of (-) 61.07 per cent, (-) 3.72 per cent and (-) 8.38 per cent respectively for December 2019 compared to December 2018.
‘Quick Estimates’ are based on the methodology of Central Statistical Office, Government of India and by using the data provided by various factories and departmental head offices.
Meanwhile, 8 out of 23 industry groups in the manufacturing sector have returned positive growth during December 2019 compared to the corresponding month of the previous fiscal year.
The industry group ‘manufacture of electrical equipment’ has shown the highest positive growth of 55.17 per cent, followed by 29.02 per cent in ‘printing and reproduction of recorded media’.
On the other hand, the industry group ‘manufacture of coke and refined petroleum products’ has shown the negative growth of (-) 88.94 per cent, followed by (-) 33.47 per cent in ‘manufacture of fabricated metal products, except machinery and equipment’.
Meanwhile, in the category of manufacture of wood/products of wood and cork except furniture, manufacture of articles of straw and plaiting materials showed negative growth of 31.8 per cent followed by (-) 30.3 per cent in manufacture of motor vehicles, trailers and semi-trailers.
The index also makes user based classification, index of primary goods, capital goods, intermediate goods, infrastructure/construction goods, consumer durable goods and consumer non-durable goods.
The month-on-month growth rates in December 2019 stood at (-) 44.26 per cent in primary goods, 60.69 per cent in capital goods, (-) 8.71 per cent in intermediate goods and 8.06 per cent in infrastructure/construction goods.
The consumer durable and consumer non-durable clocked growth of (-) 20.51per cent and (-) 0.96 per cent respectively.
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