There have been signs of industrial resurgence. Industrial growth has been both broad-based and generally balanced. In the last 29 months, from April 2004 to August 2006, the average year-on-year growth in capital and consumer goods segment of industry have been 51.39 per cent and 29.58 per cent respectively, clearly demonstrating that growth has been driven by both investment and consumption.
Manufacturing sector has continued to display buoyancy with annual growth averaging 9.6 per cent since April 2004. This buoyancy has been further strengthened with growth further accelerating to 11.8 per cent in April-August 2006.
Industrial performance had a mixed but diversified bag of strengths – local resources, skilled labour, technology and innovation. The policies of continued economic liberalization pursued during the period since 1991 has had a powerful effect on the industrial resurgence. It has not only changed the mindset of the entrepreneurs, but also made them conscious of maintaining a competitive edge in terms of prices, quality and consumer preferences. It has also improved productivity of firms by providing access to technology, intermediate inputs and capital goods.
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Plan Expenditure
On the expenditure side, we are concerned with both outlays and outcomes. At this point of time, I look at plan expenditure as well as non-plan expenditure on capital account, because these are investment oriented and stimulate economic growth. Plan expenditure in the first half of the current year was at a satisfactory level of 39.9 per cent. Non-plan expenditure on capital account stood at 21.6 per cent.
Department-wise, among the Ministries and Departments with large budgets, the Ministries of Agriculture, Development of North Eastern Region, Rural Development, Tribal Affairs and Railways have spent 50 per cent of the budgeted amount for plan expenditure.
Ministries of Human Resource Development, Science and Technology, Statistics and Programme Implementation and Textiles have also achieved more than 40 per cent of budgeted plan expenditure.
Press Information Bureau Government of India
-Ltd..jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Thermore (Far East) Ltd.")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Telangana State Industrial Infrastructure Corporation Limited (TSllC Ltd)")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Taiwan Textile Federation (TTF)")
