Core sector growth slows to 2.2% in April

PTI Updated - May 31, 2012 at 12:46 PM.

Reflecting slowdown in the economy, the growth rate of eight infrastructure sectors has slowed down to 2.2 per cent in April because of poor performance of crude oil, natural gas, petroleum refinery products and fertilisers.

The eight core sectors, which also include coal, electricity, cement and finished steel, and have a weightage of 37.9 per cent in the Index of Industrial Production (IIP), had grown by 4.2 per cent in April 2011.

The cumulative growth rate of infrastructure industries during 2011-12 has also slowed down to 4.4 per cent, from 6.6 per cent in 2010-11, according to the data released by the Commerce and Industry Ministry today.

Natural gas and crude oil production contracted by 11.3 per cent and 1.3 per cent, respectively. Petroleum refinery products and fertiliser production shrunk 2.8 per cent and 9.3 per cent, respectively.

Coal, steel and cement output grew 3.8 per cent, 5.8 per cent and 8.6 per cent, respectively in April 2012. In the same month last year, coal output had grown 2.7 per cent, steel 2.9 per cent and cement 0.1 per cent.

However, electricity generation slowed down by 4.6 per cent from 6.4 per cent in April 2011.

Published on May 31, 2012 06:08