Home > Business > Reuters > Report
Core sector up 3.9% in April
May 22, 2003 16:25 IST
India's infrastructure sector grew 3.9 per cent in April, down from a rise of 5.4 per cent in the same month a year earlier, as cement output fell sharply, government data showed on Thursday.
The infrastructure sector -- spanning six key industries of crude oil, petroleum refining, coal, electricity, cement and steel -- accounts for more than a quarter of India's industrial output and often serves as an advance signal of industrial growth.
Growth in April was dragged down by a dismal showing by the cement sector, which declined by 2.9 per cent compared to a robust growth of 10.6 per cent a year earlier.
Strong growth in cement and steel output had boosted the infrastructure sector's performance in the year to March 2003. It grew 5.2 per cent in 2002-03, up from 3.5 per cent a year earlier.
The infrastructure sector had been growing at a sturdy pace due to a construction surge in the world's 12th-largest economy thanks to cheaper loans, falling real estate prices and housing sector tax breaks.
The petroleum refining sector grew 6.6 per cent in April compared with a growth of 8.6 per cent in April 2002.
The electricity sector, which accounts for nearly 40 per cent of the infrastructure index, grew a scant 2.0 per cent in April compared to 5.2 per cent in the same month an year ago.
© Copyright 2003 Reuters Limited. All rights reserved. Republication or redistribution of Reuters content, including by framing or similar means, is expressly prohibited without the prior written consent of Reuters. Reuters shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.
|