The ERIL Index of Cost of Project Inputs, the composite project cost index, has increased feebly by 1.4 per cent during the first 10 months of the ongoing fiscal, against 2.3 per cent during the corresponding period of the precious year and 5.3 per cent in this period two years ago. Capital goods production showed 0.5 per cent decline during April-December, whereas production of cement and alloy, and non-alloy steel, was up 3.7 per cent and 4.2 per cent respectively during the period.
By the way, the final project cost index numbers have tended to be slightly higher than those provisionally assessed earlier in recent months. 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.
Trends during January
The composite wholesale price index for basic metals, alloys and metal products rose 1.4 per cent during the month due to higher price of sheets (16 per cent), steel castings, silver and gold and gold ornaments (3 per cent each), melting scrap, aluminium and pig iron (2 per cent each), and steel rods, sponge iron, HRC, plates, steel structures, rounds, angles, wire rods, GP/GC sheets, ferrosilicon, CRC and metal containers (1 per cent each). However, prices of ferromanganese and brass declined 1 per cent each.
The combined WPI for machinery and machine tools was up 0.3 per cent due to higher price of control equipments (6 per cent), loaders and electrical wires (4 per cent each), conductors (3 per cent), and industrial furnaces, textile machinery, pump and assembly, electrical pumps, electric motors, ball/roller bearings and electronic PCB/micro circuit (1 per cent each). However, the price of sprinkler declined 7 per cent, communication equipment 3 per cent, fans 2 per cent, and air-conditioners and refrigerators and electric switchgears 1 per cent each.
The consolidated WPI for transport, equipment and parts increased 0.1 per cent due to 1 per cent price increase in auto parts.
Among the other project materials, WPI of marbles declined 3.5 per cent and graphite amorphous 4 per cent, whereas the WPI of concrete poles and posts escalated 7.5 per cent during the month.
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ERIL INDEX OF COST OF PROJECT INPUTS: JANUARY 2014
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Wholesale Price Index: 2004-05=100
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Index
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Y-o-Y Increase (%)
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Increase since March (%)
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2014-13
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2013-12
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2013
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2012
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| Non-metallic Mineral Products |
165.6
|
8.0
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5.7
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-0.7
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4.2
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| Structural clay products |
178.0
|
-2.1
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5.3
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6.2
|
4.4
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| Cement & lime |
164.0
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-2.6
|
5.2
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-4.8
|
3.2
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| Basic Metals, Alloys, Metal Products |
165.9
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0.4
|
2.5
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0.7
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1.2
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| Ferrous Metals |
155.8
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0.6
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1.6
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0.7
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0.0
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| Non-ferrous metals |
164.7
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1.4
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3.2
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2.0
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2.7
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| Machinery & Machine Tools |
132.5
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2.5
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2.6
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2.4
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2.3
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| Industrial Machinery |
151.0
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2.4
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3.2
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2.3
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2.2
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| Construction Machinery |
136.9
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0.3
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3.6
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0.1
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3.5
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| Air-conditioners & Refrigerators |
115.6
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1.6
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3.5
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1.7
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3.4
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| Non-electrical Machinery |
124.3
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1.1
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-0.5
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1.0
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0.3
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| Electrical Machinery & Batteries |
137.8
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2.9
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2.3
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2.8
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2.3
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| Electrical Accessories, Wires & Cables |
151.5
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4.8
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3.9
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4.6
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3.3
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| Transport Equipment & Parts |
135.8
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3.3
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4.7
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2.7
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4.0
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| Automotives |
135.5
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3.7
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4.7
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2.9
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4.1
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| Auto Parts |
134.3
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2.4
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4.0
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2.3
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3.3
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| Composite ERIL Index for project inputs |
149.3
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1.5
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3.2
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1.4
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2.3
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| Overall WPI |
178.9
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5.0
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7.6
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5.2
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5.8
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