May core infra grows at 2.3%
The core infrastructure grows to 2.3% (Y-O-Y) in May 2013 as compared to 2.4% (Y-O-Y) growth in April 2013. The decline in the growth rate in May, 2013 was mainly on account of negative growth witnessed in the production of coal, crude oil, natural gas and fertilizer.
Sector wise trend in monthly production (% growth)
Sector
|
Weight in IIP
|
May’13
|
April’13
|
Crude Oil
|
5.22
|
(-) 2.4
|
(-) 1.2
|
Natural Gas
|
1.71
|
(-) 18.7
|
(-) 17.4
|
Petroleum Refinery Products
|
5.94
|
5
|
5.6
|
Coal
|
4.38
|
(-) 3.3
|
3.1
|
Fertilizer
|
1.25
|
(-) 2
|
(-) 2.4
|
Electricity
|
10.32
|
6.2
|
3.5
|
Cement
|
2.41
|
3
|
8.2
|
Steel
|
6.68
|
4.1
|
1.9
|
Overall
|
37.90
|
2.3
|
2.4
|
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 2.4% during Apr-May 2013-14 as against 6.5% during the corresponding period of previous year.
Sector wise trend in production (% growth)
Sector
|
Weight
|
Apr-May 2013-14
|
Apr-May 2012-2013
|
Crude Oil
|
5.22
|
(-) 1.8
|
(-) 0.4
|
Natural Gas
|
1.71
|
(-) 18.1
|
(-) 11
|
Petroleum Refinery Products
|
5.94
|
5.3
|
22.1
|
Coal
|
4.38
|
(-) 0.1
|
7.8
|
Fertilizer
|
1.25
|
(-) 2.2
|
(-) 12.4
|
Electricity
|
10.32
|
4.9
|
5.6
|
Cement
|
2.41
|
5.6
|
13.9
|
Steel
|
6.68
|
3
|
3
|
Overall
|
37.90
|
2.4
|
6.5
|
Source: PHD Research Bureau, compiled from the office of the economic advisor to the Govt. of India
Electricity generation grew by 4.9% during Apr –May 2013-14 as against 5.6% growth during Apr –May 2012-13, while steel production grew by 3% during Apr –May 2013-14 & 2012-13. The production in crude oil grew by (-) 1.8 % during Apr –May 2013-14 as compared to its growth at (-) 0.4% during Apr –May 2012-13, whereas petroleum refinery production registered a growth of 5.3% during Apr –May 2013-14 as compared to 22.1% growth during Apr –May 2012-13. Fertilizer production grew by (-) 2.2% during Apr –May 2013-14, compared to its growth at (-) 12.4% during Apr –May 2012-13 and cement production grew by 5.6% during Apr –May 2013-14 compared to its growth at 13.9% during Apr –May 2012-13.
Trend in growth of steel, cement, electricity, 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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