India's key infrastructure industries posted a handsome growth of 4.4 per cent in August on the back of a surge in electricity generation, and production of crude oil and petroleum products.
The six infrastructure industries, comprising crude petroleum, petroleum refinery products, coal, electricity, cement and finished steel had recorded a growth rate of 3.9 per cent in August last year, according to the latest data released by the government on Wednesday.
Electricity generation grew by a massive 7.2 per cent while crude oil production posted a handsome 5.1 per cent growth rate. Refined oil product output was up 4.4 per cent in a month that saw lower coal, cement and steel growth rates than those recorded in August 2003.
Coal sector posted a growth rate of 1.2 per cent as against 3.5 per cent in August 2003 while cement saw a plunge in rate of growth to just 0.8 per cent in August this year from 6.4 per cent last fiscal. Similar trends were showed in finished steel where growth plummeted from 9.2 per cent in 2003 to 2.6 per cent this fiscal.
The six infrastructure industries grew by 5.6 per cent in April-August as opposed to 4.2 per cent growth rate recorded in the same period of the previous fiscal. All industries except finished steel and cement recorded higher growth rate in the first five months of 2004-05 when compared with the corresponding period of the previous year.
Key drivers in April-August were petroleum refinery products and electricity, which posted 8.8 per cent and 7.8 per cent growth rates. Coal production was also up 5.4 per cent while crude oil recorded 4.7 per cent growth rates.
Steel ended the period with a growth rate of 2.8 per cent as against 8.9 per cent rate of growth in April-August
2003-04. Rate of growth in cement also slipped to 3.4 per cent in April-August this fiscal from 5.2 per cent in the previous.
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