Index of Industrial Production falls for 3rd straight month by 3.8% in October
New Delhi, Dec 12: Showing signs of economic slowdown, Industrial production shrank for third consecutive month in October by 3.8 per cent, mainly due to output fall in manufacturing, mining and electricity sectors, as per official data released on Thursday.
According to the National Statistical Office (NSO) data, the factory output declined by 4.3 per cent in September and 1.4 per cent in August this year, while it grew at 4.9 per cent in July.
Factory output, measured in terms of Index of Industrial Production (IIP), had expanded by 8.4 per cent in October 2018.
During April to October, the IIP growth remained almost flat at 0.5 per cent compared to 5.7 per cent in same period previous fiscal.
The manufacturing growth rate declined by 2.1 per cent in October as compared to 8.2 per cent a year ago.
Power generation growth slipped sharply by 12.2 per cent in October, compared to 10.8 per cent in the year-ago period.
Mining output too fell 8 per cent in the month under review as against 7.3 per cent in the corresponding period last fiscal.
Capital goods production, which is a barometer of investment, declined by 21.9 per cent in October compared to 16.9 per cent rise in the year-ago month.
As per use-based classification, the growth rates in October 2019 over October 2018 are (-) 6 per cent in Primary goods, 22.2 per cent in Intermediate goods and (-) 9.2 per cent in Infrastructure/ Construction Goods.
The consumer durables and consumer non-durables have recorded growth of (-) 18 per cent and (-) 1.1 per cent, respectively.
In terms of industries, 18 out of 23 industry groups in the manufacturing sector have shown negative growth during October 2019 as compared to the same month last year.
The industry group 'manufacture of computer, electronic and optical products' has shown the highest negative growth of (-) 31.3 per cent followed by (-) 27.9 per cent in 'Manufacture of motor vehicles, trailers and semi-trailers'.
On the other hand, the chemicals and its products have shown the highest positive growth of 31.8 per cent followed by 9.4 per cent in basic metals.
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MP cruise boat tragedy: Death toll rises to nine; search ops continue at Bargi Dam
Jabalpur (PTI): The death toll in the Bargi Dam tragedy rose to nine on Friday, as rescuers recovered the bodies of five more persons who were on the cruise boat that overturned in the reservoir in Madhya Pradesh's Jabalpur.
Talking to PTI Videos, Madhya Pradesh Tourism Minister Dharmendra Bhav Singh Lodhi said, "Four bodies were recovered on Thursday, while five were found in the early hours during the rescue operation, taking the toll to nine."
As many as 22 people have been rescued so far, he said.
The minister said that a thorough probe will be conducted, and the issue of life jackets, raised by one of the survivors, will also be investigated.
The rescue operation is underway in full swing to trace the missing persons, Lodhi said.
A cruise boat with 29 passengers and two crew members onboard overturned in the Bargi Dam after encountering a sudden storm on Thursday evening, officials said.
The Bargi Dam is constructed on the Narmada River in Jabalpur district.
A search and rescue operation for the missing passengers continued overnight with teams from the Army, NDRF and SDRF joining in, State PWD Minister Rakesh Singh said.
Hydraulic cranes are being used to pull out the cruise boat from the water body, he said.
According to eyewitnesses, strong winds made the water choppy, prompting many on board to raise an alarm and ask the crew to steer the boat back to the banks.
However, the crew was unable to hear these shouts, and the boat drifted and then overturned, they said, adding that some locals rescued a few passengers wearing life jackets with the help of a rope.
