Defying monsoon fury during the period, the eight core infrastructure sectors clocked a growth of 3.2 per cent in August year-on-year basis, same as the previous month. While the production of coal, crude oil, and natural gas declined and the growth of steel, cement, refinery products, and electricity went up steadily. The cumulative growth of the sectors, which account for about 38% of the country's industrial production, was 4.5 per cent in the April-August 2016 period, said Commerce Ministry press release, adding that the growth was largely because the average production in the first three months of the fiscal was over 5 per cent, and started decelerating only in the past two months. Steel production (weight of 6.68 per cent) posted the highest increase of 17% during the month, as imports declined due to various restrictions, including a minimum import price (MIP). Coal production (weight of 4.38 per cent) declined by 9.2 per cent in August while refinery products (weight of 5.94 per cent) posted a growth of 3.5 per cent. The electricity, with the highest weight (10.32%), rose marginally at 0.1 per cent. Cement production increased by 3.1 per cent compared with August 2015. Natural Gas (weight of 1.71 per cent) and crude oil (weight of 5.22 per cent) declined by 5.7 per cent and 3.9 per cent, respectively, it added.
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03 October 2016
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