28.4.10

Infrastructure sector grows 7.2% in March

The infrastructure sector continues to grow at a healthy rate. In March, the six key sectors crude oil, petroleum refinery, coal, electricity, cement and finished steel posted an annual growth of 7.2%, boosting prospects of a robust overall industrial growth in the month. The six sectors had grown by 3.3% in March 2009. These six industries, which have a combined weightage of 26.7% in the overall industrial production index, showed a marked improvement in March — as against 4.7% in February 2010. For 2009-10, the infrastructure sector registered a growth of 5.5% against 3% in the same period last year, an official statement said. Finished steel with a 9.2% expansion led the recovery, reversing a negative 1.8% growth in March last year. Coal, electricity and cement grew by 7.8% each against 5.3%, 6.3% and 10.1%, respectively in 2008-09. Crude oil production went up by 3.5% from a negative 2.3% the same month previous fiscal. But petroleum refinery products showed a dismal performance with 0.4% contraction in March 2010 over a positive 3.3% a year ago. "The growth of 7.2% growth means overall industrial growth will stay healthy in March," Crisil principal economist DK Joshi said. The overall industrial output maintained a high growth rate of over 15% for the third month in a row in February. Crude oil production registered a growth of 0.5% during April-March 2009-10 compared to contraction of 1.8% during the same period of 2008-09. Petroleum refinery production contracted 0.4% compared to 3%, the statement said.

No comments: