Core sector growth slows to 2.3% in November

The growth of six infrastructure industries slowed to 2.3 per cent in November, the lowest in the current fiscal, mainly due to contraction in production of cement and petroleum refinery products.

The six core sectors - crude oil, petroleum refinery products, coal, electricity, cement and finished steel - had expanded by 5.9 per cent in November 2009.

Petroleum refinery output contracted by 3.7 per cent and that of cement by 11.6 per cent in November, data released by the industry ministry today revealed. The refinery production had expanded by 4.8 per cent and cement by 9 per cent in November 2009.

Coal production too witnessed a sluggish growth of 0.7 per cent this November against 4.7 per cent in the comparable month last year.

Growth in the finished steel sector too was slow. The data said that it expanded by 4.4 per cent in November as compared to 11.7 per cent in the same month last year.

However, the crude oil production witnessed a significant jump as it expanded by 17 per cent in the penultimate month of 2010. The sector had contracted by 1.6 per cent in November 2009.

During April—November the core sector, which contribute about 27 per cent in IIP, grew by 5 per cent, against 4.5 per cent in same period of 2009—10.

Meanwhile, the growth figure for October has been revised upwards to 8.6 per cent from the earlier 7 per cent.