India's eight core industries growth having a combined weight of 37.90 percent in the Index of Industrial Production (IIP) slowed to 0.5 percent in January, compared to 6.4 percent in January last year, mainly due to slackening output of crude oil, steel, natural gas and petroleum refinery products.
During December 2011, the core sectors recorded a growth of 3.1 percent, compared to 6.3 percent in the same period previous year.
During April-January this fiscal, the growth declined to 4.1 percent from the 5.7 per cent in the corresponding period of 2010-11, due to deceleration in investment.
As per the data released by the Commerce and Industry Ministry, crude oil production in January showed a negative growth of two percent, compared to a positive growth of 10.8 percent in the same month last year, while natural gas production was negative at 8.9 percent, compared to a negative growth of 6.3 percent year-on-year.
In January, petroleum refinery output had a negative growth of 4.6 percent, compared to a positive growth of 8.7 percent last January, whereas steel production witnessed a negative growth of 2.9 percent, compared to a positive growth of 8.7 percent. On the other hand, coal output was 7.5 percent, compared to a negative growth of 1.3 percent year-on-year.
Fertilizers output growth also declined to four percent from the 5.9 per cent in January last year, while cement witnessed a robust growth of 10.6 percent, compared to 1.8 percent and electricity output slipped to 2.4 percent from the 9.7 percent in January 2011.
No comments:
Post a Comment