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Saturday, April 13,
2002, Chandigarh, India  
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Industrial growth slips to 2.6 pc
Exporters await norms of exim policy
For Nathpa staff, it’s race against time
PSIEC piles up liabilities |
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Dewang Mehta award for Simputer team
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Industrial growth slips to 2.6 pc
The quick estimates of Index of Industrial Production (IIP) released by the Central Statistical Organisation pegged the general index for April-February 2001-02 at 165.5 as against 161.3 during the year-ago period. While February saw higher growth in mining and electricity generation, the overall growth rate was pulled down by the dismal performance of the manufacturing sector. Industrial growth slowed to 2.3 per cent during February 2002 as against 3 per cent in the year-ago period. Manufacturing sector recorded 2.3 per cent growth in February as compared to 3.6 per cent a year ago, offsetting the significant growth rates in mining and electricity generation. Mining recorded 2.4 per cent growth as compared to a negative growth of 0.4 per cent in February 2001, while electricity generation registered 2.6 per cent growth as against stagnant growth in year-ago period. During April-February 2001-02, manufacturing sector growth was lower at 2.7 per cent, mining 1.5 per cent and electricity generation at 2.9 per cent, as against 5.7 per cent 3.9 per cent and 4.2 per cent respectively in the first eleven months of 2000-01. Growth rate in basic goods declined to 2.6 per cent, intermediate goods 1.8 per cent, consumer goods 5.7 per cent, consumer durables 11.6 per cent and consumer non-durables 3.7 per cent in April-February 2001-02. Capital goods posted a negative growth rate of 4.2 per cent in April to February 2001-02 as against a growth rate of 2.1 per cent recorded in the same period of previous fiscal. Growth in basic goods segment was lower at 2.6 per cent in the first 11 months of 2001-02 when compared with a growth rate of 4.4 per cent in the corresponding period of 2000-01. Intermediate goods saw a lower growth of 1.8 per cent in April to February 2001-02 as opposed to 4.5 per cent growth in the same period of previous year, while in the case of consumer non-durables the growth slipped to 3.7 per cent as against 6.1 per cent in April-February 2000-01. Consumer goods witnessed a growth rate of 5.7 per cent in the first 11 months of 2001-02 which was lower than 8.6 per cent growth recorded in the same period of the previous year. Similarly, consumer durables ended the period with a growth of 11.6 per cent over 16.3 per cent growth in April to February of 2000-01. Ten out of 17 two-digit industry groups have shown positive growth during February 2002 compared with the corresponding month of the previous year. Beverages, tobacco and related products have shown the highest growth of 14.5 per cent followed by 13 per cent in other manufacturing industries and 12.4 per cent in paper and paper related products and printing, publishing and allied industries.
PTI
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Exporters await norms of exim policy Ludhiana, April 12 The exporters here are awaiting the details of the incentives under this scheme, for the past many days but without any result. Mr Ashok Jaidka, Chairman, Woollen Export Promotion Council, says, “The local exporters are exporting about Rs 500 crore woollen and Rs 150-170 crore acrylic garments to different markets. Though the exports had fallen by around 15 per cent during the last fiscal year, but we are expecting that new incentives would boost the exports this year. However, we have received no guidelines so far.” Mr Sanjiv Gupta, president, Apparel Export Promotion Council, says, “The Centre government should focus on procedural simplification and cutting of import duties and facilitation of experts at the ports, which could improve the competitiveness of the exporting community.” The exporter say that export of woollen garments can substantially increase provided adequate initiatives are taken by the government.
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For Nathpa staff, it’s race against time Shimla, April 12 Originally scheduled for completion by December, 2001, the project got delayed because of the extensive damage caused to various works by flash floods in Sutlej on July 31,2000. While the corporation revised the deadline to June 2003, however, it decided to commission at least two generating units by December, 2002. A spokesman of the corporation said that most of the civil construction works were nearing completion. After complete excavations, about 80 per cent of the dam concreting and 65 per cent of intake concreting had been achieved. The excavation of the desilting chambers was in an advanced stage and concreting of as many as 22 km length of the 27.39 km long Head Race Tunnel and I km of steel liner erection had been completed. Similarly, all civil construction works in the power house complex, except a few architectural works, had been completed. The excavation and concreting of machine hall, transformer hall and pressure shafts had been successfully completed. In the three pressure shafts, steel lining with back fill concreting had also been completed.
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PSIEC piles up liabilities Chandigarh, April 12 The decline in PSIEC ‘s financial health started in 1999. This was mainly on account of enhanced price it had to pay on court orders for the land acquired for development of industrial focal points. At present PSIEC is required to deposit Rs 100 crore in various courts on account of awards announced by
them. Though PSIEC has paid nearly Rs 42 crore out of its own resources, this generosity has dried up its own liquidity. Add to this the development of commercially un-viable industrial focal points in the last five years at Muktsar, Malout, Mansa, Abohar, Bathinda, Pathankot etc. resulting in a loss of Rs 78 crore. There are no buyers. PSIEC was also taken for a ride by speculators when plots were allotted. This is indicative from the 3,144 vacant plots out of 8,764 allotted in 26 focal points. It has, so far, developed 10,873 plots. PSIEC is one of the agencies that too invested in the infamous Punwire, that has simply vanished like The Titanic. It had deposited Rs 6.25 crore. It has also not recovered Rs 50 lakh from the Punjab Hosiery and Knitwear Corporation and Rs 2.61 crore from the state institute of public administration, whose building it had constructed. A sum of Rs 6.10 crore, released by the Central government, was never passed on to the PSIEC. At present PSIEC is loaded with unwanted staff:1,444 out of which Class III and IV are 279. A majority of them are ‘’domestic help’’ with officials, who had once worked in it. It is learnt that ‘’voluntary retirement scheme’’ is to be introduced now. It is a sad comment that PSIEC has not had professionals. Most of the activities of PSIEC have slowed down, including the much touted seven emporia, which are in losses. This analysis of PSIEC has been submitted to the government at a time when the newly constituted Chief Minister’s Advisory committee on industrial growth and development of relevant infrastructure, headed by Mr A.S. Chatha, a former Chief Secretary, has been constituted. Its term is up to July 31, 2002. PSIEC has desired that the government grant interest -free loan for meeting enhancement cost of land to tide over its immediate financial problems. In fact, the developed focal points that were to be handed over to the respective local bodies for maintenance after five years of completion has not happened, thereby, burdening PSIEC with Rs 5 crore as additional expenses, per annum. Now it hopes to transfer these focal points along with staff by June 15 next as per an agreement with the local bodies department PSIEC has drawn up a XV point agenda for its own revival. In the Corporations’ grey landscape, one also finds some oasis. For example, SIDBI has been of great financial help in executing some projects.
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New Delhi, April 12