Industrial Growth

shri ib
shri ib

The growth registered in various industries of the country such as heavy engineering equipment and machine tools, automotives, heavy electrical engineering etc., during each of the last three years and the current year, sector-wise is as under:  (Rs. in crore)

Industry Sector 2012-13 2013- 14 2014- 15(Est.)* Growth(%)
Heavy Engineering Equipment & Machine Tools 57360 60231 64525  7.13
Heavy Electrical and power plant equipment 134375 131825 129782 (-)1.55
Automobile Sector 511710 489165 529522 8.25

* Note:  Figures are as per estimates of industry associations (Rs. in crore)

2012-13 2013- 14 2014- 15
Target Actual Target Actual Target (Est.)*
Heavy Engineering Equipment & Machine Tools Not fixed 57360 67055 60231 65610 64525 
Heavy Electrical and power plant equipment Not fixed 134375 138240 131825 140000 129782
Automobile Sector Not fixed 511710 540543 489165 579000 529522
* Note:  Figures are as per estimates of industry associations

The targets were not achieved due to general economic slowdown leading to lower investment by user sector.For Capital Goods, the reduction in Excise Duty from 12% to 10% has been extended till 31.12.2014 to help industrial growth.For 2015- 16, the reduction in customs duty from 7.5% to 2.5% on specific machine tools components during current budget would help in enhancing growth in production in  Machine Tool Sector.The Government has also launched a Scheme on enhancement of competitiveness in the Indian Capital Goods Sector which envisages infrastructural interventions like setting up of (i) Centers of Excellence for technology development (ii) Common Engineering Facility Centers, (iii) Integrated Industrial Infrastructural Centre and (iv) Test & Certification Center.  The Scheme also envisages financial intervention through the component Technology Acquisition Fund Programme for acquisition/ transfer of technology. The Scheme has been notified on 5.11.2014 and is under implementation. The Notification is also available in the Departmental website dhi.nic.in For Automobile Sector, Government reduced excise duty on vehicles until December, 2014 to help the industry revive from slowdown, as under:    (i)            For Small Cars, 2 wheelers and 3 wheelers and commercial vehicles from 12% to 8%.

(ii)          For SUV from 30% to 24%.

(iii)         On cars of length more than 4000 mm but engine capacity less than 1500 cc from 24% to 20%.

(iv)        On cars of length more than 4000 mm and engine capacity above 1500 cc from 27% to 24%.

This information was given by the Minister of State in the Ministry of Heavy Industries and Public Enterprises Shri  G.M. Siddeshwara in reply to a written question in the Lok Sabha.

IndianBureaucracy.com wishes the very best.

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