Core sector output grows at 3.9 per cent in January

Core sector industrial production in the country gained further momentum in the New Year, rising to 3.9 per cent in January from 2.6 per cent in December 2012. Core sector production had grown at 2.2 per cent in January 2012.

The year-on-year increase in growth in January 2013 was mainly on account of higher refinery production and improvement in steel production and electricity generation, official data released today showed.

The index of core sector industries, which has a weight of 37.90 per cent in the general index of industrial production (IIP), stood at 158.7 in January 2013, showing a growth of 3.9 per cent year-on-year.

The eight core sector industries comprising coal, crude oil, natural gas, petroleum refinery products, fertilisers, steel, cement and electricity had recorded a cumulative growth of 3.2 per cent in April-January 2012-13 compared to the 5.0 per cent growth recorded during the corresponding period of the previous fiscal.

Coal production, which has a weight of 4.38 per cent in the IIP, grew at 2.3 per cent in January 2013 compared to its 7.7 per cent growth in January 2012. Cumulative growth in coal production during April-January 2012-13 was 5.2 per cent compared to its negative growth of (-) 1.4 per cent during the same period of 2011-12.

Production of crude oil (weight of 5.22 per cent) registered a negative growth of (-) 0.2 per cent in January 2013 against its (-) 2.0 per cent growth in January 2012. Cumulative production of crude oil recorded a growth of (-) 0.4 per cent during April-January 2012-13 against a 1.5 per cent growth during the same period of 2011-12.