(a) whether manufacturing, capital goods and consumer goods are problem areas and whether the Government has taken note of the decline in the manufacturing sector;
(b) if so, the details thereof including the reasons for the decline in the manufacturing sector and problem areas of capital goods and consumer goods; and
(c) the remedial measures taken/ proposed to be taken by the Government to boost/improve the manufacturing sector in the country?
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THE MINISTER OF STATE IN THE MINISTRY OF COMMERCE &INDUSTRY
(SHRI SOM PARKASH)
(a)&(b): As per the latest available estimates of Gross Domestic Product (GDP) by National Statistical Office, the Gross Value Added (GVA), at constant prices (2011-12), for the manufacturing sector registered a growth of 6.9 per cent in the year 2018-19 as compared to a growth of 5.9 per cent in the year 2017-18.
The growth of capital goods and consumer durables, as recorded by use based classification of Index of Industrial Production (IIP) for years 2017-18 and 2018-19 is given below :
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Annual Capital Goods and Consumer Durable category growth rates as per IIP (%)
Use-based category 2017-18 2018-19
Capital goods 4.0 2.8
Consumer durables 0.8 5.5
Source : National Statistical Office
The figures for the year 2018-19 are provisional.
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Capital goods related to automobile sector have witnessed a decline. The Government, as a policymaker, always attempts to kickstart the sluggish economy through a package of measure for comprehensive and continued development of the auto sector as and when required.
(c) : The Government is continuously taking steps to boost manufacturing and spur economic growth, through its initiatives such as Make in India , Startup India, Ease of doing Business, Business Reform Action Plan, Intellectual Property Rights (IPR) Policy and sectoral schemes/programmes. The Government aims at creating a conducive environment for manufacturing by streamlining the existing regulations and processes and eliminating unnecessary requirements and procedures. Further, Foreign Direct Investment (FDI) policy and procedures have been simplified and liberalized progressively.
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