BackGrowth down to 3.6% for six core industries in April 08
Growth down to 3.6% for six core industries in April 08
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PTI
New Delhi: Pulled down by the sluggish performance of petroleum and electricity sector, growth of India’s six core industries slowed down to 3.6% in the first month of the current fiscal as against 5.9% a year ago.
The six core infrastructure industries - crude oil, petroleum refinery products, coal, electricity, cement and finished carbon steel - had registered a 9.6% growth in the preceding month of March.
Of the six industries, that have a combined weight of 26.7% in the overall Index of Industrial Production (IIP), refinery products growth slowed down considerably to 4.3% in April from 15.% in the same month last year.
Similarly, electricity generation growth was down to 1.4% from a robust 8.7% in April 2007.
Crude oil growth came down to 0.9% from 1.4%.
The remaining three sectors--coal, cement and finished carbon steel--registered good growth rates. Coal output grew by 10.3% from a mere 0.6%, while cement production rose by 6.9% from 5.8% and finished carbon steel to 4% from 2.7%.
Industrial growth, contributed to the extent of more than one-fourth by these six industries, had recovered to 7.1% in April from a mere 3.9% in the preceding month. However, the growth was quite down from 11.3% in April 2007.
For the April-March period of 2007-08, growth of six infrastructure industries was down to 5.6% as compared to 9.2% in the corresponding period a year ago.
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