Core sector growth slows to 5.3% in May

New Delhi : With a sharp decline in the production of natural gas and cement, the growth of key infrastructure industries slowed to 5.3 per cent in May. The output of these industries, crucial for overall economic growth, had expanded 7.4 per cent in the corresponding month a year ago, and 5.2 per cent in April this year. The eight core infrastructure industries — coal, crude oil, natural gas, petroleum refinery products, fertilisers, finished steel, cement and electricity — account for 37.9 per cent in the overall index of industrial production. The growth rate in the April-May period was 4.9 per cent against 7.9 per cent in the corresponding period last year, according to data released by the Ministry of Commerce and Industry today.

The new data based on the new base year of 2004-05, puts the growth of the eight core industries at 144.5 points in April-May, which was 137.8 points in the same period last year.