India's core sector rebounds with 2.9 % growth in March

Core sector industrial production in the country rebounded with a 2.9 per cent growth in March 2013 from a negative (-) 2.5 per cent growth registered in February 2013.

The growth was mainly on account of buoyancy in the production of cement and steel and a marginal increase in electricity generation.

The eight core sector industries comprising coal, crude oil, natural gas, petroleum refinery products, fertilisers, steel, cement and electricity had recorded production growth of 3.0 per cent in March 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 164.5 in March 2013, showing a growth rate of 2.9 per cent year-on-year, official data released today showed.

Core sector production recorded a cumulative growth of 2.6 per cent in April-March 2012-13 compared to the 5.0 per cent growth during the corresponding period of 2011-12.

Coal production (which has a weight of 4.38 per cent in the IIP) recorded a slow growth of 0.3 per cent in March 2013 compared to its 7.3 per cent growth in March 2012.

Coal production recorded a cumulative growth of 3.3 per cent during April-March 2012-13 compared with its 1.3 per cent growth during the same period of 2011-12.

Production of crude oil (weight of 5.22 per cent in IIP) grew at 0.2 per cent in March 2013 compared to its (-) 2.9 per cent growth in March 2012.

Cumulatively production of crude oil was down (-) 0.6 per cent during April-March 2012-13 compared to its growth of 1.0 per cent during the same period of 2011-12.

Natural gas production (weight of 1.71 per cent in IIP) was negative both in March 2013 at (-) 17.7 per cent and in March 2012 at (-) 9.9 per cent.

Cumulative production of natural gas registered a negative growth of (-) 14.5 per cent during April-March 2012-13 and (-) 8.9 per cent during the same period of 2011-12.

Petroleum refinery production (weight of 5.94 per cent in IIP) showed a growth of 5.6 per cent in March 2013 compared to its 1.6 per cent growth in March 2012.

Petroleum refinery production in cumulative terms recorded a growth of 6.9 per cent during April-March 2012-13 compared to its 3.1 percent growth during the same period of 2011-12.

Fertiliser production (weight of 1.25 per cent in IIP) rose 3.6 per cent in March 2013 against its 1.5 per cent growth in March 2012.

Cumulative production of fertilisers was down at (-) 3.4 per cent during April-March 2012-13 against a 0.4 per cent growth recorded during the same period of 2011-12.

Steel production (weight of 6.68 per cent in IIP) grew 6.6 per cent in March 2013 against its 6.2 per cent growth in March 2012.

Cumulative production of steel during April-March 2012-13 was up 2.5 per cent compared to its 10.3 per cent growth during the same period of 2011-12.

Cement production (weight of 2.41 per cent) recorded a growth of 6.6 per cent in March 2013 against its 7.1 per cent growth in March 2012.

Cumulative production of cement was up 5.6 per cent during April-March 2012-13 compared to its 6.7 per cent growth during the same period of 2011-12.

Electricity generation (weight of 10.32 per cent) was up 3.0 per cent in March 2013 compared to its 2.8 per cent growth in March 2012.

Cumulative growth of electricity generation was 4.0 per cent during April-March 2012-13 compared to its 8.1 per cent growth during the same period of 2011-12.