March core infra grows at 2.9% 

The core infrastructure grows to 2.9% in March 2013 as compared to 3% growth in March 2012. The marginal decline in growth in March, 2013 was on account of negative growth witnessed in the production of Natural Gas and low growth recorded in the production of Coal and Crude Oil.

 Sector wise trend in monthly production                                                      (% growth)

Sector	Weight in IIP	February’13	March’13
Crude Oil	5.22	(-) 4.0	0.2
Natural Gas	1.71	(-) 20.1	(-) 17.7
Petroleum Refinery Products	5.94	4.3	5.6
Coal	4.38	(-) 8.0	0.3
Fertilizer	1.25	(-) 4.0	3.6
Electricity	10.32	(-) 3.7	3.0
Cement	2.41	3.1	6.6
Steel	6.68	0.5	6.6
Overall	37.90	(-) 2.4	2.9

  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-March 2012-13 as against 5% during the corresponding period of the previous year.

Sector wise trend in production                                                                                 (% growth)

Sector	Weight	Apr-Mar 2011-12	Apr-Mar 2012-13
Crude Oil	5.22	1.0	(-) 0.6
Natural Gas	1.71	(-) 8.9	(-) 14.5
Petroleum Refinery Products	5.94	3.1	6.9
Coal	4.38	1.3	3.3
Fertilizer	1.25	0.4	(-) 3.4
Electricity	10.32	8.1	4.0
Cement	2.41	6.7	5.6
Steel	6.68	10.3	2.5
Overall	37.90	5.0	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-Mar 2012-13 as against 8.1% growth during Apr-Mar 2011-12, while steel production grew by 2.5% during Apr-Mar 2012-13 as compared to 10.3% during Apr-Mar 2011-12. The production in crude oil grew by (-) 0.6% during Apr-Mar 2012-13 as compared to its growth at 1% during Apr-Mar 2011-12, whereas petroleum refinery production registered a growth of 6.9% during Apr-Mar 2012-13 as compared to 3.1% growth during Apr-Mar 2011-12. Fertilizer production grew by (-) 3.4% during Apr-Mar 2012-13, compared to its growth at 0.4% during Apr-Mar 2011-12 and cement production grew by 5.6% during Apr-Mar 2012-13 compared to its growth at 6.7% during Apr- Mar 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

________________________________________________

PHD Research Bureau

PHD Chamber of Commerce and Industry

August Kranti Marg, New Delhi – 110016

Tel 91 11 49545454, Fax 91 11 26855450,

E mail – research@phdcci.in

Website www.phdcci.in