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India's core sector growth falls to 2.6pc

Posted on Jan 31, 07:50PM | IBNS

New Delhi, Jan 31 : The growth rate of India's eight core industries declined to 2.6pc in December 2012, from 4.9 per cent in the same month previous year, revealed government figures on Thursday.

The Eight core industries have a combined weight of 37.90 per cent in the Index of Industrial Production (IIP).

The combined Index was 154.6 in December 2012 with a growth rate of 2.6pc compared to their 4.9pc growth in December 2011.

The decline in growth in December, 2012 was on account of negative growth witnessed in the production of Coal, Natural Gas and Fertilizers.

During April-December 2012-13, the cumulative growth rate of the Core industries was 3.3 pc compared to their growth at 4.8pc during the corresponding period in 2011-12.

Coal

Coal production (weight: 4.38pc ) registered a growth of (-) 0.2pc in December 2012 compared to its growth at 5.5pc in December 2011. In cumulative terms, Coal production recorded a growth of 5.7pc during April-December 2012-13 compared to its growth at (-) 2.7pc during the same period of 2011-12.

Crude Oil

Crude Oil production (weight: 5.22pc ) registered a growth of 1.0pc in December 2012 compared to its (-) 5.6pc growth in December 2011. Cumulatively, Crude Oil production recorded a growth of (-) 0.4pc during April-December 2012-13 compared to its growth at 1.9pc during the same period of 2011-12.

Natural Gas

The growth rate of Natural Gas production (weight: 1.71pc ) was negative both in December, 2012 at (-) 14.9pc and in December 2011 at (-) 10.8pc . Cumulatively also, Natural Gas production registered a negative growth of (-) 13.3pc during April-December 2012-13 and (-) 8.8pc during the same period of 2011-12.

Petroleum Refinery Products (0.93pc of Crude Throughput)

Petroleum refinery production (weight: 5.94pc ) had a growth of 5.0pc in December 2012 compared to its growth at 0.7pc in December 2011. In cumulative terms, Petroleum refinery production registered a growth of 6.9pc during April-December 2012-13 compared to its 4.0pc growth during the same period of 2011-12.

Fertilizers

Fertilizer production (weight: 1.25pc ) registered a growth of (-) 3.8pc in December 2012 against its growth at 0.8pc in December 2011. Cumulatively, Fertilizer production registered a growth of (-) 3.4pc during April-December 2012-13 compared to its (-) 0.5pc growth during the same period of 2011-12.

Steel (Alloy + Non-Alloy)

Steel production (weight: 6.68pc ) had a growth rate of 5.2pc in December 2012 against its 10.2pc growth in December 2011. Cumulatively, Steel production registered 3.6pc growth during April-December 2012-13 compared to its 9.1pc growth during the same period of 2011-12.

Cement

Cement production (weight: 2.41pc ) registered a growth of 3.9pc in December 2012 against its 13.6pc growth in December 2011. The cumulative growth of Cement Production was 6.1pc during April-December 2012-13 compared to its 5.8pc growth during the same period of 2011-12.

Electricity

Electricity generation (weight: 10.32pc ) had a 4.4pc growth in December 2012 compared to its 8.9pc growth in December 2011. The cumulative growth of Electricity generation was 4.6pc during April-December 2012-13 compared to its 9.3pc growth during the same period of 2011-12.