Core sector growth shoots up to 6.5 per cent in June
23 Jul 2009
The growth rate of core sector industries, including crude oil, cement, finished steel, coal and electricity, shot up to 6.5 per cent in June 2009, the closing month of the first quarter of the current fiscal, from 2.8 per cent May.
The index production of core sector industries stood at 5.1 per cent during the same month of the previous year, ie, June 2008.
Core sector industries had reported a growth of 4.3 per cent in April this year, showing the first signs of an economic recovery.
The index of the six core industries having a combined weight of 26.7 per cent in the index of industrial production (base 1993-94 = 100) stood at 251.6 (provisional) in June
2009, showing a growth of 6.5 per cent (provisional), compared to a growth of 5.1 per cent in June 2008.
During April-June 2009-10, the six core industries registered a growth of 4.8 per cent (provisional) as against 3.5 per cent during the corresponding period of the previous year.
Production of crude oil (weight 4.17 per cent in the IIP) grew 4.0 per cent (provisional) in June 2009 compared with (-) 4.7 per cent in June 2008. For the April-June 2009-10 quarter, crude production registered a growth of (-)1.3 (provisional) against (-)0.1 per cent during the same period of 2008-09.
.jpg "India, Nigeria agree on local currency settlement system")
