Core sector output growth falls to 2.5% in March

news
30 April 2014

Core sector industrial production in the country grew at a slower pace of 2.5 per cent in March 2014 against the 4.5-per cent growth posted in February 2014 and the 7 per cent growth seen in same month last year.

The decline in core sector production has been due mainly to a significant fall in petroleum sector output and lower production of fertilisers, official data released today showed.

The eight core sector industries comprising fertilisers, cement, steel, electricity, crude oil, coal, petroleum refinery products and natural gas, having a combined weight of 37.90 per cent in the general index of industrial production (IIP), recorded a growth of 2.6 per cent during the April-March 2013-14 period.

Coal production, which has a weight of 4.38 per cent in IIP, increased by 0.7 per cent in March 2014 year-on-year. Cumulative production of coal during April-March 2013-14 increased by 0.8 per cent over the previous year period.

Production of crude oil (weight of 5.22 per cent in IIP) declined by 1.6 per cent in March 2014 over March 2013. Cumulative production of crude oil during April-March 2013-14 declined by 0.2 per cent.

Natural gas production (weight of 1.71 per cent in IIP) declined by 9.3 per cent in March 2014 over March 2013. Cumulative production during April-March 2013-14 declined by 13.0 per cent year-on-year.

Petroleum refinery production (weight of 5.94 per cent in IIP) recorded a growth of 2.8 per cent in March 2014 over March 2013 while cumulative production during April-March 2013-14 increased by 1.7 per cent year-on-year.

Fertilizer production (weight of 1.25 per cent in IIP) declined by 6.1 per cent in March 2014 over March 2013. However, it posted a cumulative growth of 1.5 per cent during April-March 2013-14 over the previous year period.

Steel production (weight of 6.68 per cent in IIP) recorded a growth of 5.4 per cent in March 2014 over March 2013. Cumulative growth during April-March 2013-14 was 4.3 per cent over the previous year period.

Cement production (weight of 2.41 per cent in IIP) in March 2014 remained unchanged from the March 2013 level while its cumulative growth during April-March 2013-14 stood at 3.0 per cent compared to the previous year.

Electricity generation (weight of 10.32 per cent in IIP) increased by 5.4 per cent in March 2014 over March 2013 and recorded a cumulative growth of 5.6 per cent during April-March2013-14 over the previous year period.





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