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