The composite ERIL Index of Cost of Project Inputs declined nominally during April-July of the current fiscal, against 1.9 per cent rise in the same period of fiscal 2013. The rise on a y-o-y basis was also only 0.4 per cent in July 2013, against 6.6 per cent in the corresponding period a year ago. When juxtaposed with shrinking production of capital goods, the feat points to tardier project execution in the country.

Computed by Economic Research India Pvt. Ltd, the ERIL Index measures the overall project cost escalation in terms of WPI of material inputs relevant in project construction.

The consolidated wholesale price index for basic metals, alloys and metal products declined by 0.4 per cent during July due to lower price of silver (14 per cent), gold and gold ornaments (4 per cent), sponge iron (3 per cent), angles, sheets and melting scrap (2 per cent each), and ferromanganese, HRC, brass, nuts, bolts, screws, washers and wire rods (1 per cent each).

However, the price of furniture escalated 19 per cent, steel castings 3 per cent, metal containers and utensils (other than aluminium) 2 per cent each; and ferrosilicon, steel structures, fixtures, copper and copper ingots, and iron castings 1 per cent each.

The total WPI for machinery and machine tools rose by 0.8 per cent during the month due to higher price of electric generators (14 per cent), fibre optic cable (8 per cent), electronic PCB/micro circuit (5 per cent), industrial furnaces (4 per cent), battery dry cells, control equipment, TV accessories, boilers and accessories, and batteries (2 per cent each), and loaders, earthmoving machinery, electric motors, capacitors and threshers (1 per cent each).

However, the price of heating elements and ball/roller bearing declined by 6 per cent each, material handling equipment, fluorescent tubes, microwave ovens, air-conditioners and refrigerators 1 per cent each.

The composite WPI for Transport, Equipment & Parts rose by 0.4 per cent during the month due to 3 per cent price hike in railway axle and wheel and 1 per cent each in motor vehicles and auto parts.

ERIL Index of Cost of Project Inputs: July 2013
Wholesale Price Index: 2004-05=100
 
Index
Incr. (%) during
Incr. since Mar (%)
 
 
2013/12
2012/11
2012
2011
Non-metallic mineral products
166.4
5.5
8.4
-0.2
2.9
  Structural clay products
171.8
4.4
6.0
2.5
1.3
  Cement & Lime
169.9
0.2
10.8
-1.4
3.9
Basic metals, alloys, metal products
162.3
-2.6
9.7
-1.5
2.0
  Ferrous Metals
153.4
-2.6
9.1
-0.8
1.7
  Non-Ferrous Metals
162.3
1.1
2.0
0.5
1.5
Machinery & Machine tools
131.5
2.6
3.2
1.6
1.4
  Industrial Machinery
148.6
1.9
3.1
0.7
1.1
  Construction Machinery
137.1
1.3
2.7
0.3
2.6
  Air Conditioner & Refrigerators
113.9
1.2
2.3
0.2
2.2
  Non-electrical Machinery
123.1
0.3
1.7
0.0
-0.1
  Electrical Machinery, Batteries
138.9
4.4
3.3
3.6
1.6
  Electrical Accessories, Wires, Cables.
149.1
3.7
4.7
2.9
2.7
Transport equipment & parts
133.2
3.4
3.7
0.8
1.9
  Automotives
132.7
3.8
3.6
0.8
1.8
  Auto Parts
132.4
2.0
4.4
0.8
2.2
Composite ERIL Index for project inputs
147.1
0.4
6.3
-0.1
1.9
Overall WPI
175.4
5.8
7.52
3.1
3.0

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