Core sector growth dips to 5.1 pc in Sept '08

New Delhi, Nov 7 (UNI) Growth of country's six core infrastructure industries slowed to 5.1 per cent in September 2008 from 5.8 per cent in the year-ago month, the government data said today.

The cumulative growth in production of crude oil, petroleum refinery products, coal, electricity, cement and steel in the first half of current fiscal also dipped to 3.9 per cent as against 6.9 per cent recorded in the corresponding April-September period of the previous year, the data released here by the Commerce and Industry Ministry said.

The Index of these six core infrastructure industries has a combined weightage of 26.7 per cent in the Index of Industrial Production (IIP).

Decline in production of crude oil, petro refinery products and steel continued but positive growth in coal and cement production acted saviors.

Electricity generation remained almost steady, registering a growth of 4.4 per cent in September 2008 compared to 4.3 per cent in September 2007.

But overall it declined in first six months of current fiscal to 2.6 per cent as against 7.6 per cent in the same period of previous fiscal.

Crude oil production recorded a negative growth of 0.4 per cent in September 2008 compared to a negative growth of 0.7 per cent in the month year ago.

From a positive growth of 0.7 per cent in the first half of the previous year, it slumped to minus 0.8 per cent in first half of current fiscal.

Petroleum refinery production grew at 2.8 per cent in September 2008 compared to growth of 6.9 per cent in September 2007, while comparable half yearly growth were 4.5 per cent and 9.8 per cent.

Coal production went up by 10.7 per cent in September this year compared to 6.3 per cent in the year-ago month and the cumulative growth in first six month of current fiscal was a healthy 7.9 per cent compared to 2.8 per cent in April-September 2007.

Cement production also grew by a robust 7.9 per cent in September as against 5.4 per cent the same month of previous year.

But its overall growth declined to 6 per cent in first six months of current fiscal from an increase of 8.7 per cent recorded in the first half of previous fiscal.

Growth in steel production dipped to 5.8 per cent in September 2008 from 9.5 per cent in the month year ago and cumulative growth in first half of the year also declined to 5.3 per cent from 7.7 registered in April-September 2007, the provisional data said.

UNI SAA SBA CS1322