Core Sector Growth Dips To A Paltry 3.9% In April

New Delhi, May 22: | Updated: May 23 2003, 05:30am hrs
Decline in cement and crude petroleum pulled down the infrastructure sector growth to 3.9 per cent in April, against 5.4 per cent in the year-ago period.

The other segments of the core sector are petroleum refining, coal, electricity and finished steel. The six segments of the sector have a weightage of 26.68 per cent in the index of industrial production.

Crude petroleum registered a -1.9 per cent growth in April, as compared to 2.7 per cent in April 2002. Since February this year, when it grew 5 per cent, crude petroleum was on the decline, falling to 0.9 per cent in March and in April showing negative growth. Its IIP weightage is 4.17 per cent.

Decline in cement with and IIP weightage of 1.99 per cent, began after last December, when it had posted an impressive 16.2 per cent. Growth fell to 9.2 per cent next month, further down to 5.2 per cent in February and 5.3 per cent in March. In April, it fell sharply to -2.9 per cent, against a healthy 10.2 per cent in April 2002.

Finished steel with an IIP weightage of 5.13 per cent, continued its good performance, improving from 5.3 per cent in March to 11.9 per cent in April. It had grown by 3.6 per cent in April 2002.

The second best performance was in petroleum refinery products (IIP weightage 2 per cent), which grew by 6.6 per cent, against 8.6 per cent in April 2002.

Electricity (weightage, 10.17 per cent) grew by a meagre 2 per cent, against 5.2 per cent in April 2002. Coal (weigtage, 3.12 per cent) also showed a dip in growth at 3.1 per cent against 6.3 per cent in April 2002.