Friday, May 31, 2013

Core sector grows a mere 2.3% in AprilENS Economic Bureau

New Delhi, Jun 01 2013:--

The combined output of eight core infrastructure industries grew by 2.3 per cent during the first month of the current fiscal, as against 5.7 per cent during the corresponding last year period, dragged down by a sluggish growth in steel and electricity and a contraction in sectors including crude oil and fertiliser.

According to the data released by the commerce ministry, the growth in the natural gas segment contracted 17.4 per cent while that of the crude oil declined 1.2 per cent during April in the current financial year. The growth in the fertiliser sector contracted 2.4 per cent, the data showed.

The eight core industries comprise coal, crude oil, natural gas, petroleum refinery products, fertilisers, steel, cement and electricity, and have a weight of around 38 per cent in the Index of Industrial Production (IIP).

Retail inflation for industrial workers has eased to 10.24 per cent in April compared 11.44 per cent in March this year mainly on account of decline in prices of petrol and mustard oil.

The retail inflation, measured in terms of Consumer Price Index-Industrial Workers, stood at 10.22 per cent in the corresponding month last year.

\"Food inflation stood at 12.39 per cent against 13.21 per cent of the previous month and 10.66 per cent during the corresponding month of the previous year,\" the labour ministry said in a statement. PTI

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