New Delhi, June 30 (Inditop.com) The composite index of India’s six core industries logged a 2.8 percent expansion in May, down from 3.1 percent registered in the like month last year, official data showed Tuesday.
The six core industries comprise crude oil, refined petroleum fuel, coal, electricity, cement and finished steel. They have a collective weight of 26.7 percent in the Index of Industrial Production (IIP).
Data released by the commerce and industry ministry said the cumulative growth in the six core industries was 3.9 percent during April-May period as against 2.7 percent in the corresponding period of the previous year.
Of the industries under review, both crude oil production and petroleum refinery production fell 4.3 percent in May 2009. While crude oil had grown 3.2 percent in May 2008, refinery production had increased 0.1 percent in the month.
Coal production increased to 10.2 percent in May this year from 8.8 percent in May 2008 and electricity generation was up 3.3 percent compared to 2 percent.
The ailing cement sector too registered growth. It expanded production by 11.6 percent in May 2009 compared to a 3.8 percent rise in May 2008.
Production of finished carbon steel grew 1.4 percent in May as against 3.3 percent in the like period last year.
