The index of mineral production of mining and quarrying sector for the month of September at new base Series (2004-05=100) declined by 3.1 per cent to 115.6 as compared to September 2015, according to government data released on Monday.
“The cumulative growth for the period April- September 2016-17 over the corresponding period of previous year has been 0.0 percent,” the Ministry of Mines said in a statement.
The total value of mineral production (excluding atomic & minor minerals) in the country during September 2016 was Rs. 16,997 crore. The contribution of coal was the highest at Rs. 6,076 crore (36%), followed by petroleum (crude) Rs. 5302 crore, natural gas (utilized) Rs. 2068 crore, iron ore Rs. 1457 crore, lignite Rs.718 crore and limestone Rs. 535 crore. These six minerals together contributed about 95 per cent of the total value of mineral production in September 2016.
“The cumulative growth for the period April- May 2016-17 over the corresponding period of previous year stands at 1.2 per cent,” the Ministry of Mines said in a statement.
The total value of mineral production (excluding atomic & minor minerals) in the country during May 2016 was Rs. 18,809 crore. The contribution of Coal was the highest at Rs. 7423 crore (39%). Next in the order of importance were: Petroleum (crude) Rs. 5,595 crore, Natural gas (utilized) Rs. 2,122 crore, Iron ore Rs. 1,968 crore, Limestone Rs. 545 crore and Lignite Rs.406 crore.
These six minerals together contributed about 96 per cent of the total value of mineral production in May 2016.
In term of volume production, coal production were 517 lakh tonnes, Lignite 32 lakh tonnes, natural gas (utilized) 2566 million cu. m., petroleum (crude) 31 lakh tonnes, and bauxite 2389 thousand tonnes.
Factory output, measured in terms of the Index of Industrial Production (IIP), had expanded by 2.5 per cent in May last year, the data released by the Central Statistics Office (CSO) showed.
On cumulative basis, the factory output in April-May contracted by 0.1 per cent compared to 2.8 per cent growth in the year-ago period.
Despite a rebound in May, the growth figure remained low and may add to the clamour for rate cut by the Reserve Bank of India.
Meanwhile, the provisional estimates of 0.8 per cent contraction in April this year was revised downwards to 1.34 per cent decline in factory output.
According to data, output of consumer durables, which include white goods like television, refrigerators and washing machines, grew by 6 per cent in May compared to a contraction of 3.9 per cent in the same month a year ago.
The manufacturing sector that constitutes over 75 per cent of the index saw a growth of 0.7 per cent in May compared to 2.1 per cent a year ago.
Power generation grew 4.7 per cent in May compared to 6 per cent in the same month a year ago.
The mining sector recorded a growth of 1.3 per cent in May this year as against 2.1 per cent a year ago.
In terms of industries, 14 out of 22 industry groups in the manufacturing sector have shown growth during the month of May 2016 compared to the corresponding month of the previous year.
As per user-based classification, the growth rates in May 2016 are 3.9 per cent in basic goods, (-) 12.4 per cent in capital goods and 3.6 per cent in intermediate goods.
The consumer non-durables output contracted by 2.2 per cent. The overall growth in consumer goods was 1.1 per cent.
Auto industry missed the target of producing 4.1 million passenger vehicles last fiscal under the Automotive Mission Plan 2006-16, although it exceeded the cumulative production target of 27.75 million units for the 10-year period by 1 per cent.
The turnover in 2015-16, as per Society of Indian Automobile Manufacturers (SIAM) estimates, stood at Rs 6.01 lakh crore, which is within the target range of Rs 5.61 lakh crore and Rs 7.31 lakh crore under the Automotive Mission Plan (AMP) 2006-16.
According to SIAM, in 2015-16 actual production of passenger vehicles was at 3.4 million units, by 18 per cent from the target of 4.1 million.
Likewise, in the two-wheelers there was a shortfall of 42 per cent with actual production in FY16 at 18.8 million units as against a target of 32.6 million units.
Commercial vehicles also missed the target of achieving 8.9 lakh units in 2015-16 with actual production standing at 7.8 lakh units, a shortfall of 12 per cent.
Similarly, three-wheelers also missed the target by 4 per cent with actual production in 2015-16 at 9.3 lakh units against the target of 9.7 lakh units.
On the other hand, the auto industry managed to exceed the cumulated production targets of various categories except the two-wheelers for the ten-year period.
As per SIAM figures, cumulative production of passenger vehicles in FY06-FY16 period was at 27.91 million, more than 1 per cent from the target of 27.75 million. This was possible due to a surplus of 26 per cent witnessed around 2009-10 to 2012-13.