Core sector grows at a slow 2.3% in May as well

Core sector industrial production in the country continued to grow at around 2.3 per cent in May 2013, unchanged from its growth rate in April, on account of negative growth witnessed in the production of coal, crude oil, natural gas and fertilizer.

The eight core sector industries comprising coal, crude oil, natural gas, petroleum refinery products, fertilisers, steel, cement and electricity recorded production growth of 2.3 per cent in May 2013 against a growth rate of 7.2 per cent in May 2012.

The index of core sector industries (base 2004-05=100), which has a weight of 37.90 per cent in the general index of industrial production (IIP), stood at 159.2 in May 2013, showing a growth rate of 2.3 per cent year-on-year, according to official data released today.

Coal production, which has a weight of 4.38 per cent in the general index of industrial production (IIP), registered a negative growth of (-) 3.3 per cent in May 2013 against a growth of 9.6 per cent in May 2012. Cumulative growth of coal production during the first two months of the financial year (April-May 2013-14) stood at (-) 0.1 per cent against 7.8 per cent during April-May 2012-13.

Production of crude oil (weight of 5.22 per cent in IIP) registered a negative growth of (-) 2.4 per cent in May 2013 against a 0.5 per cent growth in May 2012. Cumulative growth of crude oil production during April-May 2013-14 was negative at (-) 1.8 per cent compared to (-) 0.4 per cent during April-May 2012-13.

The growth rate of natural gas production (weight of 1.71 per cent in IIP) was negative both in May 2013 at (-) 18.7 per cent  and in May 2012 at  (-) 10.7 per cent. Cumulative growth of natural gas production during April-May 2013-14 was also negative at (-) 18.1 per cent compared to (-) 11.0 per cent during April-May 2012-13.

Petroleum refinery production (weight of 5.94 per cent in IIP) grew at 5.0 per cent in May 2013 against 23.4 per cent in May 2012.  Cumulative growth of petroleum refinery production during April-May 2013-14 was 5.3 per cent against 22.1 per cent during April-May 2012-13.

Fertilizer production (weight of 1.25 per cent in IIP) registered a growth of (-) 2.0 per cent in May 2013 against a growth rate of (-) 15.1 per cent in May 2012. Cumulative growth of fertilizer production during April-May 2013-14 stood a (-)2.2 per cent.

Steel production (weight of 6.68 per cent in IIP), however, recorded a growth of 4.1 per cent in May 2013 against a 3.8 per cent growth in May 2012. Cumulative growth of steel production stood at 3.0 per cent both during April-May 2013-14 and April-May 2012-13.

Cement production (weight of 2.41 per cent in IIP) recorded a growth of 3.0 per cent in May 2013 against a 15.4 per cent growth in May 2012. Cumulative growth of cement production during April-May 2013-14 was 5.6 per cent aagainst 13.9 per cent during April-May 2012-13.

Electricity generation (weight of 10.32 per cent in IIP) recorded a growth of 6.2 per cent in May 2013 against a 5.9 per cent growth in May 2012. Cumulative growth of electricity generation during April-May 2013-14 stood at 4.9 per cent against a 5.6 per cent growth recorded during April-May 2012-13.