Financial Daily from THE HINDU group of publications
Saturday, Aug 21, 2004
Financial Daily from THE HINDU group of publications Saturday, Aug 21, 2004 |
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Industry & Economy
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Economy Core sector growth up 7.4 pc in July Our Bureau
New Delhi , Aug. 20 THE slowdown in cement and steel sectors notwithstanding, the official six-industry infrastructure index has notched a higher year-on-year growth rate of 6 per cent during April-July 2004, compared with 4.2 per cent for the same period last year. The 6 per cent growth rate has come even as finished steel production during the period has gone up by only 2.8 per cent on an annualised basis (against 8.8 per cent during April-July 2003, with the growth for cement, too, being lower (4 per cent against 4.9 per cent). On the other hand, the growth rates (April-July 2004 vis-a-vis April-July 2003) have been higher for refined petroleum products (10 per cent against 4.6 per cent), crude petroleum (4.6 per cent against minus 1.5 per cent), coal (6.4 per cent against 3.7 per cent) and electricity (7.9 per cent against 2.8 per cent). For the latest recorded month of July, the growth rates were higher than that for 2003 in the case of coal (6.6 per cent versus 3 per cent), electricity (13.9 per cent versus minus 1.2 per cent) and cement (8 per cent versus 4 per cent), while being lower for refined petro-products (3.7 per cent versus 7.5 per cent) and finished steel (3.3 per cent versus 7.7 per cent) and unchanged for crude petroleum (0.3 per cent versus 0.3 per cent). The overall growth rate for the infrastructure index in July worked out to 7.4 per cent, which was higher than the year-on-year figure of 2.8 per cent for July 2003.
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