Core sector growth dips to 4.7%

What may come as a dampener to the much-touted "feel-good factor" in the economy before the Lok Sabha elections, the infrastructure growth slowed down to 4.7 per cent during the first 10 months of this fiscal from 5.8 per cent in April-January 2002-03.

The growth in six core sectors -- crude petroleum, petro refining, coal, electricity, cement and steel -- remained flat at 5.9 per cent in January as it was in December 2003.

Infrastructure growth were relatively higher than 4.9 per cent in January 2003, mainly due to robust growth in petroleum refining, cement and coal.

However, the core sector growth during April-January slowed down to 4.7 per cent this fiscal compared to 5.8 per cent in 2002-03.

Petro refining sector logged the highest 8.4 per cent growth during January, which was lower than 9.2 per cent a year ago.

Cement production grew by 7.5 per cent in January, but it was still lower than 9.2 per cent a year ago.

Coal sector turned around with a robust growth of 7.3 per cent from a decline of 0.6 per cent in January 2003.

Electricity generation was up by 5.9 per cent in January 2004 from 4.5 per cent a year ago.

Steel output grew by 4.6 per cent but was lower than 7.0 per cent a year ago.

Crude output grew by 4.1 per cent in January this year from 0.3 per cent a year ago. Barring the petro refining sector, growth in all the other five sectors was down.

Petro refiners hiked their output by 7.3 per cent during the first 10 months of this fiscal from 4.2 per cent in the year ago period.

But crude throughput posted a meagre 0.3 per cent growth till January this fiscal compared to 3.2 per cent in the same period last fiscal.

Coal sector grew by 4.1 per cent till January, 2004 compared to 4.5 per cent in the year ago period, while growth in electricity generation was 0.1 per cent lower at 3.7 per cent till January, 2004.

Cement output grew by only 5.8 per cent till January as against 9.7 per cent in the same period a year ago.