Core industries register 3.1 pc growth in July

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SME Times News Bureau | 03 Sep, 2013
Eight key infrastructure sectors that include coal, power, crude oil, gas, cement and steel, posted a sluggish 3.1 percent growth in July, government data showed Monday.

The eight core infrastructure industries -- that have 37.9 percent weight in the Index of Industrial Production (IIP) -- had posted 4.5 percent expansion in the corresponding month of last year, and 0.1 percent growth in June 2013.

For the first four months of the current financial year, the average growth is 1.9 percent, according to data released by the ministry of commerce and industry here.

Electricity generation increased by 5.2 percent in July 2013 year-on-year. Cumulative growth in power output in April-July period of the current financial year is 3.4 percent.

Steel production jumped by 7 percent while cement output increased by a sluggish 0.8 percent during the month under review.

Petroleum refinery production increased by 5.1 percent; fertilizer output grew by 0.4 percent; and coal output inched up by 1.2 percent.

However, the output of natural gas slumped by 16.1 percent, and crude oil production fell by 2.3 percent during the month under review.