Business Daily from THE HINDU group of publications
Thursday, Jul 10, 2008
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Business Daily from THE HINDU group of publications Thursday, Jul 10, 2008 ePaper | Mobile/PDA Version | Audio |
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Economy Industry & Economy - Economy Infrastructure growth falls to 3.5% in May 
Our Bureau
New Delhi, July 9 Poor growth rate in electricity generation coupled with petroleum refinery products output becoming almost stagnant, the overall index for six infrastructure industries grew by 3.5 per cent in May 2008 as against 7.8 per cent in May last year. This is the same level as it was in the preceding month of April. Electricity sector, which carries 10.17 per cent weight in the Index for Industrial Production (IIP), highest among the six core sector industries which together carry a weight of 26.68 per cent in the IIP, has registered a growth of 2 per cent in May this year as against 9.3 per cent in the same month last year. The growth in petroleum refinery output became almost stagnant with a 0.1 per cent output growth as compared with 14.9 per cent in May last year. However, a strong jump in coal production from 0.5 per cent in May last year to 8.3 in May this year and increased growth rate in crude oil output by 3.2 per cent as against (-)1.6 per cent in the same month last year have been able to maintain the index at its present level. The growth rate in the cement sector also slowed down during the month to 3.8 per cent from 9.9 per cent in the same month last year, while finished steel output grew by 5.2 per cent as against 8.4 per cent in May last year. For the first two months of the current fiscal — April and May — the overall growth of the core sector index stood at 3.5 per cent as against 6.9 per cent in May last year. Infrastructure sector growth dips to 3.6% in April Steel, cement drive infrastructure growth to 9.6% in March Moody’s sees slowing of GDP growth to 7.7% this fiscal More Stories on : Economy | Economy
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