February core infra grows at (-) 2.5% 

The core infrastructure grows to (-) 2.5% in February 2013 as compared to 7.7% growth in February 2012. The decline in growth in February, 2013 was on account of negative growth witnessed in Electricity generation and in the production of Crude Oil, Coal, Natural Gas and Fertilizers.

 Sector wise trend in monthly production                                                      (% growth)

Sector	Weight in IIP	January’13	February’13
Crude Oil	5.22	-0.2	-4.0
Natural Gas	1.71	-16.8	-20.1
Petroleum Refinery Products	5.94	10.5	4.3
Coal	4.38	2.3	-8.0
Fertilizer	1.25	-9.1	-4.0
Electricity	10.32	6.3	-4.1
Cement	2.41	3.0	3.9
Steel	6.68	1.9	0.5
Overall	37.90	3.1	-2.5

  Source: PHD Research Bureau, compiled from the office of the economic advisor to the Govt. of India

In cumulative terms core infrastructure industries registered a growth of 2.6% during April-February 2012-13 as against 5.2% during the corresponding period of the previous year.

Sector wise trend in production                                                                                          (% growth)

Sector	Weight	Apr-Feb 2011-12	Apr-Feb 2012-13
Crude Oil	5.22	1.4	-0.7
Natural Gas	1.71	-8.8	-14.2
Petroleum Refinery Products	5.94	3.3	7.0
Coal	4.38	0.5	3.7
Fertilizer	1.25	0.3	-4.0
Electricity	10.32	8.7	4.0
Cement	2.41	6.7	5.5
Steel	6.68	10.7	2.1
Overall	37.90	5.2	2.6

Source: PHD Research Bureau, compiled from the office of the economic advisor to the Govt. of India

Electricity generation grew by 4% during Apr-February 2012-13 as against 8.7% growth during Apr-February 2011-12, while steel production grew by 2.1% during Apr-February 2012-13 as compared to 10.7% during Apr-February2011-12. The production in crude oil grew by -0.7% during Apr- February 2012-13 as compared to its growth at 1.4% during Apr- February 2011-12, whereas petroleum refinery production registered a growth of 7% during Apr- February 2012-13 as compared to 3.3% growth during Apr- February 2011-12. Fertilizer production grew by -4% during Apr- February 2012-13, compared to its growth at 0.3% during Apr- February 2011-12 and cement production grew by 5.5% during Apr- February 2012-13 compared to its growth at 6.7% during Apr- February 2011-12.

Trend in growth of steel, cement, electricity and coal and overall                  (%)

Source: PHD Research Bureau, compiled from the office of the economic advisor to the Govt. of India

Warm regards,

Dr. S P Sharma

Chief Economist

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PHD Research Bureau

PHD Chamber of Commerce and Industry