Growth in the eight core industries' slowed down to 2.3% in April as against 5.7% in the same month of previous year, mainly dragged down by a sluggish growth in steel, electricity and a contraction in sectors including crude oil and fertilizer. Among the eight core sectors, representing 38% weight in the Index of Industrial Production (IIP), crude oil, natural gas and fertilizer sector recorded negative growth in their output, while the other sector showed expansion in April, however substantially slowed when compared with same month a year ago.
On the positive side, coal production, which occupies 4.38% weightage in index, registered a growth of 3.1% for the reporting month compared to the growth of 5.9% in April 2012. However, during 2012-13 coal production recorded a growth of 3.4% compared to its 1.3% growth during 2011-12. Petroleum refinery production, representing 5.94% weight in IIP index grew by 5.6% in April 2013 compared to its high growth at 20.8% in April 2012. The growth of Petroleum refinery production during 2012-13 was 8.6% compared to its 3.1% growth during 2011-12.
Similarly, Steel and Cement sectors having weight of 6.68% and 2.41%, registered growth of 1.9% and 8.3% in month under review against 2.3% and 12.5% growth in same month previous year. In cumulative terms, steel production registered 2.5% growth for the FY13 compared to 10.3% growth during the FY12. Growth of cement production was 9.3% in FY13 against 6.7% growth during the FY12. Moreover, electricity generation recorded 3.1% growth in April, 2013 compared to 5.4% growth in April, 2012. Electricity generation grew at 4.0% during 2012-13 compared to its 8.1% growth during 2011-12.
On the flip side, crude oil, with weightage of 5.22% in index registered a negative growth of 1.2% in the reporting month compared to a de-growth of 1.4% in April 2012. During 2012-13, growth of Crude Oil production was negative at 0.6% compared to its 1.0% growth during 2011-12. Natural gas and fertilizer also registered negative growth of 17.4% and2.4% in month under review against a de-growth of 11.3% and 9.3% growth in same month previous year. Similarly, for the full fiscal 2012-13 witnessed a negative growth of 14.5%. Fertilizer production registered a de-growth of 3.4% during 2012-13 compared to 0.4% during 2011-12.
