Core sector growth slows to 2.6 per cent in 2013-14

Special Correspondent
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Electricity generation up in March

Core Sector growth slowed to 2.6 per cent in 2013-14 from 6.5 per cent in the previous year, official data released on Wednesday showed.

The growth in March for the eight core industries — fertilisers, cement, steel, electricity, crude oil, coal, petroleum refinery products and natural gas — that have a combined weight of about 38 per cent in the Index of Industrial Production (IIP) came in at 2.5 per cent against 7 per cent in the same month a year ago.

The output growth, however, is slightly higher than that in January when the eight sectors had grown by 1.6 per cent.

A clear trend, however, is yet to emerge as the growth figures have been fluctuating month after month.

In February, the core sector’s growth was recorded at 4.5 per cent. The fall in March was led by shrinking output of crude oil, natural gas and fertiliser by 1.6 per cent, 9.3 per cent and 6.1 per cent, respectively.

Cement output

Production of coal, petroleum refinery products and steel slowed to 0.7 per cent, 2.8 per cent and 5.4 per cent during the month from 1.7 per cent, 24.3 per cent and 11.6 per cent, respectively in March 2013. Cement output was unchanged in March.

The only sector that showed an increase in output was electricity for which generation rose to 5.4 per cent from 3.5 per cent in March 2013.



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