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Infrastructure growth dips to 4.3% in July

Infrastructure growth dips to 4.3% in July
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First Published: Wed, Sep 10 2008. 01 42 PM IST
Updated: Wed, Sep 10 2008. 01 42 PM IST
PTI
New Delhi: Six key infrastructure industries saw growth decline to 4.3% in July from 7.2% a year ago, but the numbers were better compared with the month- ago performance of 3.4%.
Crude oil was the worst performer in the grouping, with a negative growth of 3% in July this year against a positive trend in the comparable month of last fiscal.
Growth in finished steel was a dismal 1.9% during the month under review against 10.8% the previous year, while petroleum refinery products posted a sterling growth of 11.8%.
For the April-July period of the current fiscal, the core infrastructure industries grew by 3.7% against 6.6% in the same period last year.
The core grouping of infrastructure industries carry a weightage of 26.68% on the Index of Industrial Production (IIP) and could in turn impact economic growth, which has already been projected to slow down to 7.7% this fiscal by the Prime Minister’s Economic Advisory Council.
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First Published: Wed, Sep 10 2008. 01 42 PM IST