9.5 p.c. rise in core sector

The Hindu, New Delhi
Led by oil refinery production and cement, the six core infrastructure industries posted an impressive growth of 9.5 per cent in November this fiscal compared to 5.7 per cent in the same month of 2005.

Petroleum refinery production showed a handsome increase of 16.4 per cent in November from a mere 1.5 per cent in the corresponding month of the previous year.

Cement emerged as second best performer with an increase in production of 11.5 per cent as compared to 7.8 per cent. Showing a turnaround, crude oil output posted an increase of 10.1 per cent against a negative 8.5 per cent. The index of six core infrastructure industries, having a combined weightage of 26.7 per cent in the overall Index of Industrial Production, stood at 221.6 in November as compared to 202.4 in 2005.

Electricity generation continued to show a satisfactory performance for the third month in a row with 8.8 per cent growth against 3.4 per cent. However, growth in finished steel and coal production declined to 9 per cent and 4.9 per cent from 14.8 per cent and 6.9 per cent, respectively.

The strong performance of above nine per cent in three months leading to November, resulted in improved growth of 7.8 per cent during the eight months of this fiscal against 5.2 per cent in the comparable period last year.

The improved performance of infrastructure industries will also help the overall IIP for November.