Core sector growth zooms to 7.1 per cent in August
25 Sep 2009
Growth of six core infrastructure industries hit a high of 7.1 per cent in August this year, up from a current-year low of 1.8 per cent in July this year and 2.1 per cent recorded in the same month last year.
The expansion has been aided by a 17.6 per cent rise in cement production, a 12.9 per cent rise in coal production and a 9.8 per cent jump in electricity generation, compared to the August 2008 levels.
The index of the six core sector industries comprising crude oil, refinery products, electricity, coal, cement and steel, and having a combined weight of 26.7 per cent in the Index of Industrial Production (with base 1993-94) stood at 255.3 (provisional) in August 2009, up 7.1 per cent (provisional) from 2.1 per cent in August 2008.
During April-August 2009-10, the six core sector industries recorded a growth of 4.8 per cent (provisional) against a growth of 3.3 per cent during the corresponding period of the previous year.
Crude oil production (having a weight of 4.17 per cent in the IIP) registered a negative growth of (-) 2.6 per cent (provisional) in August 2009 against a negative growth of (-) 1.0 per cent in August 2008. For the April-August period, crude oil production registered a negative growth of (-) 1.3 per cent (provisional) compared with (-) 0.9 per cent in the same period of 2008-09.
Petroleum refinery production (weight of 2.00 per cent in IIP) recorded a growth of 3.0 per cent (provisional) in August 2009 compared to 2.5 per cent in August 2008. Petroleum refinery production during April-August 2009 registered a negative growth of (-) 4.9 per cent (provisional) against a growth of 4.8 per cent during the same period of 2008-09.