February core infra grows at 4.5%

The core infrastructure grows to 4.5% (Y-O-Y) in February 2014 as compared to 1.6% (Y-O-Y) in January 2014. The combined index of Eight Core Industries stands at 156.7 in February 2014 with a growth rate of 4.5% as compared to 1.3% in February 2013. Crude oil and Natural gas registered a growth rate of 1.9% and (-) 4.4% respectively in the month of February 2014.

   Sector wise trend in monthly production                                          (% growth)

Sector	Weight in IIP	Feb’14	Jan’14
Crude Oil	5.22	1.9	3.0
Natural Gas	1.71	(-)4.4	(-)5.2
Petroleum Refinery Products	5.94	3.2	(-) 4.5
Coal	4.38	0.1	(-) 0.7
Fertilizer	1.25	(-)0.7	1.2
Electricity	10.32	10.4	5.7
Cement	2.41	2.3	1.5
Steel	6. 6 8	4.8	3.4
Overall	37.90	4.5	1. 6

  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 Apr-Feb 2013-14 as against 6.4% during the corresponding period of previous year.

     Sector wise trend in production                                                                         (% growth)  

Sector	Weight	Apr-Feb 2013-14	Apr-Feb 2012-2013
Crude Oil	5.22	(-)0.1	(-)0.7
Natural Gas	1.71	(-)13.3	(-)14.2
Petroleum Refinery Products	5.94	1.6	29.4
Coal	4.38	0.9	5.0
Fertilizer	1.25	2.2	(-)4.0
Electricity	10.32	5.7	4.1
Cement	2.41	3.3	7.6
Steel	6. 6 8	4.2	3.4
Overall	37.90	2.6	6.4

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

Electricity generation grew by 5.7% during Apr–Feb 2013-14 as against 4.1% growth during Apr–Feb 2012-13, while steel production grew by 4.2% during Apr– Feb 2013-14 as against 3.4% during Apr- Feb 2012-13. The production in crude oil grew by (-) 0.1% during Apr– Feb 2013-14 as compared to its growth at (-) 0.7% during Apr– Feb 2012-13, whereas petroleum refinery production registered a growth of 1.6% during Apr– Feb 2013-14 as compared to 29.4% during Apr– Feb 2012-13. Fertilizer production grew by 2.2% during Apr– Feb 2013-14 compared to its growth at (-) 4% during Apr– Feb 2012-13 and cement production grew by 3.3% during Apr–Feb 2013-14 compared to its growth at 7.6% during Apr– Feb 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