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Six core industries grow 5.7% in Q1

Growth rate of six infrastructure industries shot up to 5.7 per cent in the first quarter ended June 30, 2002 as opposed to 1.2 per cent growth in the same period a year ago, giving firm indications of revival of industry.

Beginning the year with 5 per cent growth in April, the six infrastructure industries improved to 5.3 per cent in May and to 5.8 per cent in June. The six sectors, comprising crude petroleum, petroleum refinery products, coal, electricity, cement and finished steel, had logged a mere 0.8 per cent growth in June 2001, according to the latest official data released in New Delhi.

But for petroleum refinery products, growth in which remained stagnant at 6.4 per cent in Q1, all other sectors bounced to robust growth in April-June 2002-03.

While crude petroleum and finished steel improved over negative 4.1 per cent and 0.1 per cent growth rate in Q1 of 2001-02 to handsome 7.2 per cent and 6.8 per cent this fiscal, coal rose to 6.6 per cent as compared to 0.1 per cent the previous year.

Electricity generation increased by 3.5 per cent in April-June, 2002 as compared to 2.3 per cent in the corresponding period last year. Similarly, cement clocked 8.1 per cent growth as against 2.4 per cent growth in April-June 2001-02.

In June 2002, crude petroleum logged 10 per cent growth rate at 2.731 million tonnes production as against a negative growth rate of 7.4 per cent in the same month last year.

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