India's eight core industries growth having a combined weight of 37.90 percent in the Index of Industrial Production (IIP) slowed down to 2.1 percent in August from the 3.8 percent in last August, mainly due to negative growths in the production of natural gas, cement, fertilizer and crude oil.
During April-August 2012-13, the cumulative growth rate of the core industries declined to 2.8 percent from the 5.5 percent in the corresponding period in 2011-12.
As per the data released by the Commerce and Industry Ministry, Coal production in August witnessed a robust growth of 11.0 percent, compared to a negative growth of 15.2 percent last year, while Petroleum refinery production more than doubled to 8.4 percent from the 3.8 percent year-on-year.
On the other hand, Electricity production in August registered a growth of 1.7 percent, down from 9.4 percent in the same month last year, while Steel (Alloy+Non-Alloy) production had a 1.8 percent, down from 7.9 percent in August last year.
Crude oil oil production in August witnessed a negative growth of 0.6 percent, compared to a positive growth of 1.6 percent in last August, while the growth of Natural Gas production also was negative at 13.5 percent, compared to a negative growth of 5.3 percent year-on-year.
In August, Fertilizer output had a negative growth of 2.1 percent, compared to a positive growth of 4.3 percent last August, whereas Cement production was also negative at 2.4 percent, compared to a positive growth of 8.4 percent in August 2011.
by RTT Staff Writer
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