Core sector logs 4.6% growth

The six infrastructure industries grew by 4.6 per cent in October this year, as against 4.2 per cent a year ago, thanks to robust performanc...

The six infrastructure industries grew by 4.6 per cent in October this year, as against 4.2 per cent a year ago, thanks to robust performances of cement and coal sectors. The growth in April-October, as measured on the index of industrial production (IIP), was 5.9 per cent as compared to 5.4 per cent in the corresponding period last year.

Data released by the government on Thursday shows that the growth rate of cement has jumped to 13.6 per cent from 6.8 per cent in October last year. The over all growth rate for the cement industry has risen from 5.7 per cent for the seven month-period from April to October last year to 6 per cent for the corresponding period this year.

Coal, which showed a negative growth rate of 1.4 per cent in October last year, posted a major turnaround to register a positive growth rate of 11.8 per cent in October 2004.

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In the first seven months of the current fiscal, the growth rate for the sector more than doubled from 3.2 per cent last year to 7.3 per cent this year.

The growth rate for finished steel was 10.1 per cent in October last year which has fallen to 1.9 per cent for the same month this year. The overall growth rate for the period April to October has declined from 12.5 per cent last year to 4.1 per cent this year.

Electricity showed a growth of 2.6 per cent in October last year which has risen to 3.8 per cent in October this year. The seven month growth of 2.9 per cent last year has more than doubled to 7.3 per cent this year.

While crude petroleum recorded a positive growth rate of 2.7 per cent in October 2003, it has recorded a negative growth rate of 0.1 per cent in the same month this year.

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The growth rate for crude petroleum over seven months last year was negative at 0.9 per cent but has recorded a positive growth rate of 3.6 per cent this year.

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