Signs of industrial recovery, at last

Signs of industrial recovery, at last

The latest figures suggest a welcome boom in the industrial economy, with growth trends(प्रवृत्तियों) perhaps the strongest in two decades(दशकों). The Index of Industrial Production for January has risen acredible 7.5% (over the like period last year), with the growth notably buoyant(प्रसन्नचित्त) for three successive months now. The newest figures show that growth has gone up by a handsome 8.7% in the all-important manufacturing segment(खंड/अनुभाग), is upbeat in electricity and somewhat lacklustre(मंद/भावशून्य) in mining. Credit revival could sustain(बनाए रखना/संभालना )the momentum. Some of the present upside in industrial output a whole year and more after demonetisation may be due to the likely slump in production then, particularly in the informal sector. However, the growth seems broad-based: motor vehicles production is up by about 26%, computers and other electronic items have risen by a solid 22%. Also, disaggregated(अलग-अलग) data show solid 14.6% growth in capital goods, which is a broad indicator of investment demand in the pipeline. Further, output is bullish(तेजी) for consumer durables as well as non-durables.

However, there are a few heads where production has declined, such as wearing apparel(परिधान/पोशाक); the output of textiles also seem much subdued(वशीभूत/अधीन किया हुआ). It is entirely possible that the huge reported pile-up of GST credits due to exporters is having a wholly avoidable negative effect on output. Prompt corrective policy action is called for by the GST Council. We also need much more predictable policy in mining and evacuation(निकासी/परित्याग), so as to gainfully boost output and value-addition going forward. To better gauge economic output, we now need a regular index of services output. Besides, the Central Statistics Office needs to better leverage(शक्ति/उत्तोलन) information technology to provide more segmented(खंडित किया), accurate and timely data for the industrial index as well.


Important Vocabulary

Synonyms: cogent, commanding, compelling, convincing, dynamic
Antonyms: apathetic, idle, impotent, inactive, ineffective

Synonyms: dress, equipment, garment, gear, accouterments

Synonyms: hushed, low-key, mellow, muted, restrained
Antonyms: cheerful, happy, aroused, boisterous, communicative

Synonyms: division, piece, portion, section, sector
Antonyms: whole

Synonyms: advantage, bargaining chip, clout, weight, ascendancy

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