Core sector growth in April moderates to 5.2%

01 Jun 2011 Evaluate

The Index of Six core industries having a combined weight of 26.7 per cent in the Index of Industrial Production (IIP) with base 1993-94 stood at 276.5 (provisional) in April 2011 and registered a growth of 5.2% (provisional) compared to 7.5% registered in April 2010 and 7.4% in March 2011. During April-March 2010-11, six core industries registered a growth of 5.8% (provisional) as against 5.5% during the corresponding period of the previous year. The decline can be mainly attributed to weakness in cement output and lower finished steel production.

Crude Oil production having weight of 4.17% in the IIP registered a growth of 11% (provisional) in April 2011 compared to a growth rate of 5.1% in April 2010. The Crude Oil production registered a growth of 11.9% (provisional) during April-March 2010-11 compared to 0.5% during the same period of 2009-10.

Petroleum refinery production having weight of 2.00% in the IIP registered a growth of 6.6% (provisional) in April 2011 compared to growth of 5.3% in April 2010. The Petroleum refinery production registered a growth of 3.0% (provisional) during April-March 2010-11 compared to (-) 0.4% during the same period of 2009-10. Coal production with weight of 3.2% in the IIP registered a growth of 2.9% (provisional) in April 2011 compared to growth rate of (-) 2.9% in April 2010. Coal production grew by (-) 0.1% (provisional) during April-March 2010-11 compared to an increase of 7.9% during the same period of 2009-10.

Though, Cement production having a weight of 1.99% in the IIP registered a negative growth of (-) 1.1% (provisional) in April 2011 compared to 8.8% in April 2010. Cement Production grew by 4.5% (provisional) during April-March 2010-11 compared to an increase of 10.5% during the same period of 2009-10.

Finished (carbon) Steel production (weight of 5.13% in the IIP) registered a growth of 4.3% (provisional) in April 2011 compared to 12.9% (estimated) in April 2010. Finished (carbon) Steel production grew by 8.2% (provisional) during April-March 2010-11 compared to an increase of 5.4% during the same period of 2009-10. During the same period, marginal decline was witnessed in Electricity generation, having weight of 10.17% in the IIP, registering a growth of 6.8 % (provisional) in April 2011 compared to growth rate of 6.9% in April 2010. Electricity generation grew by 5.6% (provisional) during April-March 2010-11 compared to 6.2% during the same period of 2009-10.

The government has recently decided to include natural gas and fertilisers in the list of core sector infrastructure industries. The new series, which will have data for eight key sectors, is likely to be released on June 10. The move will increase the weight of the core sector to about 37 percent in the IIP.

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