Showing signs of recovery, the output of eight core sectors grew 7.3 per cent in June, the fastest pace in nine months, on improved production of coal, crude oil, cement and electricity.
Growth in the infrastructure sector, which has a combined weight of about 38 per cent in the Index of Industrial Production (IIP), was 1.2 per cent in June 2013.
“The performance of eight core industries during the April-June 2014 on the whole has improved to clock 4.6 percent level from 3.3 per cent till May 2014. The 7.3 per cent growth achieved in June 2014 reflects the revival of the performance in the core industries,” said D S Rawat, Secretary General ASSOCHAM
Coal, crude oil, cement and electricity recorded a growth of 8.1 per cent, 0.1 per cent, 13.6 per cent and 15.7 per cent respectively in the month under review. Natural gas and fertiliser output recorded a negative growth of 1.7 per cent and 1 per cent, according to the data of the Commerce and Industry Ministry.
Refinery products output growth slowed down by 1.2 per cent as against 1.8 per cent in June last year. Similarly steel production too declined by 4.2 per cent in June from 7.6 per cent in the same month last year. During April-June, growth in the eight core industries grew by 4.6 per cent from 3.7 per cent in the year-ago period.