Industrial growth drops to 4.9% in Feb

Negative growth in mining and electricity pulled down industrial growth to 4.9% in February 2005 - nearly half of the 8.3% growth recorded in February 2004.

The latest index for industrial production (IIP) released today put the growth in April-Feburary 2004-05 at 8.1% as against 6.9% in the same period of the previous fiscal.

The mining sector showed a negative growth of 2.3% in Feburary 2005 when compared with a roubst growth of 10.7% in February 2004.

While the electricity sector showed a negative growth of 0.9% as against 12.9% growth, the manufacturing sector growth slowed to 6.2% from 7.6% in the year-ago period.

While the growth of the mining sector in the first 11 months of 2004-05 slowed to 4% from 5.3% last year, manufacturing growth was at 8.7% as against 7.3% in the pervious year.

The electricity sector also grew 5.3% in April-Feburary 2004-05 as against 4.5% in the same period of the last fiscal.