Core sector growth slips marginally

Core sector growth slips marginally

By SiliconIndia   |   Tuesday, 24 December 2002, 08:00 Hrs
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Low growth in coal and petroleum refinery products during November resulted in slight decline in overall growth of six infrastructure industries to 3.4% as against 4% in the corresponding period last year.

NEW DELHI: The six infrastructure industries sustained a healthy 6.4 per cent cumulative growth rate during April-November against just 1.3 per cent during same period in 2001-02, as per data released by the industry ministry on Tuesday.

A news agency said the marginal decline in November was mainly on account of a sharp dip in coal sector growth to 0.8 per cent from 11.8 per cent in November 2001.

Similarly, petroleum refinery products saw a lower growth at 4.7 per cent compared to 7.4 per cent in November 2001 while cement also declined to six per cent from 6.4 per cent in the same month last year.

The only industries which sustained a growth rate higher than last year during the month were finished steel whose growth rate nearly doubled to 7.8 per cent from three per cent in 2001 and crude petroleum and electricity which posted growth rates of 0.7 and 3.5 per cent respectively.

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