Eight core sector industries grow 3.9% in January

The eight core sector industries grew by 3.9%in January this year, up from 2.2%in the same month in 2012.

March 1, 2013 04:29 IST

The eight core sector industries grew by 3.9%in January this year, up from 2.2%in the same month in 2012.

However, the cumulative expansion of these industries in April-January period of 2012-13 slowed to 3.2% from 5%in the same period last year, according to the official data released on Thursday.

The eight industries include crude oil, petroleum refinery products, coal, electricity, cement and finished steel and have a weightage of 37.9% in the overall Index of Industrial Production (IIP).

??The low growth in January was on account of negative growth witnessed in the production of crude oil, natural gas, fertiliser and cement,?? it said.

Belying expectations of recovery, economic growth slipped further in the July-September quarter to 5.3 per cent, raising fears that the slowdown may pull down the annual growth rate to decade’s low level.

This article was first uploaded on March one, twenty thirteen, at twenty-nine minutes past four in the morning.