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29 December 2011

Madhya Pradesh to bring out first ever state industrial production index

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By Pervez Bari

Bhopal: Madhya Pradesh is going to bring out the first state level industrial production index and the maiden index would come out in January 2012.
The index would facilitate more accurate and timely assessment of Gross Domestic Product, (GDP), of industries. Presently, in the absence of this index the All India index has to be depended upon, an official spokesman said.

The types of industries vary from state to state. Some states have maximum agro-based, chemical, machinery and transport related industries while others have large industries like steel and cement. It is, therefore, not appropriate to make an accurate assessment of industrial GDP based on the All India index. This more often than not leads to variation in progress rates which are different from actual rates.

The progress of registered industries impacts the progress of medium and small scale ones. Therefore, it is imperative to make accurate assessment of progress rate of organized industries. This is possible only through state level industrial production index. This would make available vital information regarding progress of different industries in different areas and their production to the planners, researchers and policy makers of state and central governments.

The state level index would provide the information of a month within two months. This would enable the government to take remedial measures in case there is shortfall in production of any product and to ascertain the main problem responsible for it. In case of unusual increase in production of any product the state government, armed with proper information, would be able to recommend to the Central government for export of that particular product. In the event of fall in production of any essential commodity it would be possible to import the required raw material for this to avert avoidable price hike.

[Pervez Bari is a senior Journalist based at Bhopal, Madhya Pradesh. He is associated with IndianMuslimObserver.com as Bureau Chief (Madhya Pradesh). He can be contacted at pervezbari@eth.net]

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