Lok Sabha Question No. 1252 (UNSTARRED), answered on 2022-02-09
Subject: Growth Rate of Core Sector
Ministry: COMMERCE AND INDUSTRY
Asked by: Su Thirunavukkarasar

## GOVERNMENT OF INDIA MINISTRY OF COMMERCE & INDUSTRY DEPARTMENT FOR PROMOTION OF INDUSTRY AND INTERNAL TRADE LOK SABHA

UNSTARRED QUESTION NO. 1252. TO BE ANSWERED ON WEDNESDAY, THE 9 TH     FEBRUARY, 2022.

## GROWTH RATE OF CORE SECTOR

## 1252.  SHRI THIRUNAVUKKARASAR SU:

Will the Minister of COMMERCE AND INDUSTRY be pleased to state: वाणिज्य एवं उद्योग मंत्री

- (a) whether the growth rate of core sector in the country deflated to a lower than expected 3.1% in November 2021 from the revised 8.4% in October 2021;
- (b) if so, the details thereof and the reaction of the Government thereto;
- (c) the  extent  to  which  the  core  sector  would  impact  the  index  of  industrial production;
- (d) if so, the details thereof and the measures taken by the Government to promote the core sector growth in the country; and
- (e) if not, the reasons therefor?

## ANSWER

## वाणिज्य एवं उद्योग मंत्रालय में राज्य मंत्री ( श्री सोम प्रकाश ) THE MINISTER OF STATE IN THE MINISTRY OF COMMERCE & INDUSTRY (SHRI SOM PARKASH)

- (a) & (b): The  growth  rate  of  Core  Sector  in  the  country  increased  by  3.4% (provisional) in November 2021 compared to November, 2020. Overall growth rate of core sector for April-Dec 2021 is 12.6%.
- (c) to (e): The Core Sector comprise 40.27% of the weight of items included in the Index of Industrial Production (IIP), thus, it has an impact on the Index
- of Industrial Production.

Government has undertaken a number of measures to boost industrial infrastructure.    PM  Gati  Shakti,  a  National  Master  Plan  has  been launched for multi-modal connectivity, bringing 16 Ministries including Railways and Roadways together for integrated planning and coordinated implementation of infrastructure connectivity projects. Additionally,  other  measures  adopted  include  National  Infrastructure Pipeline  (NIP),  National  Monetization  Pipeline  (NMP),  India  Industrial Land Bank (IILB), Industrial Park Rating System (IPRS), soft launch of the National Single Window System (NSWS).  Besides, measures taken to promote industrial sector include announcement of Production Linked

Incentive (PLI) Scheme for 14 Key Sectors, introduction of Goods and Services Tax, reduction in Corporate tax rates to 15%, enactment of four labour  codes,  improving  ease  of  doing  business,  efforts  to  reduce compliance  burden,  FDI  policy  reforms,  policy  measures  to  boost domestic  manufacturing  through  public  procurement  orders,  Phased Manufacturing Programme (PMP), etc. In  Union  Budget  2022-23,  financial  outlay  of  Rs.  7.50  lakh  crore  has been allocated for capital expenditure by the Central government, which is  35.4%  higher  as  compared  to  allocation  in  previous  year.  Total effective  capital  expenditure  for  2022-23  is  Rs.  10.68  lakh  crore  i.e., nearly 4.1% of GDP. Economic  Survey  2021-22  also  estimated  India's  GDP  to  grow  by 9.2  per  cent  in  2021-22.    Manufacturing  is  estimated  to  grow  by

12.5 per cent in 2021-22.

- ******