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India`s core sector grows 3% during 2001-02
India`s key infrastructure sectors grew a cracking 4.6 per cent in March 2002, pushing overall growth in the past financial year to three per cent but not enough to reverse a slowdown in the world`s second most populous country.
India's key infrastructure sectors grew a cracking 4.6 per cent in March 2002, pushing overall growth in the past financial year to three per cent but not enough to reverse a slowdown in the world's second most populous country.
The sectors spanning crude, petroleum refining, coal, steel, cement and electricity account for nearly 27 per cent of industrial production which saw sluggish growth for most of 2001-02.
India's industrial output between April and February in the last fiscal year was a meagre 2.6 per cent, less than half the 5.4 per cent last year, prompting economists to raise doubts about an economic revival.
Data released by the Commerce and Industry Ministry on Wednesday showed the six core sectors had grown by just three per cent last year compared with 5.1 per cent in the same period last year.
March was the fifth straight month of strong growth but analysts said it was not broad-based enough to pull up overall industrial growth.
Cement grew an impressive 10 per cent year-on-year in March and steel recorded a 5.5 per cent growth while coal was sluggish at 3.8 per cent growth and the refining sector fell by 3.2 per cent.
But analysts said the growth in cement and steel was mainly due to demand from the government's 6,000-km national highway project and reconstruction work in Gujarat which was ravaged by an earthquake last year.
Bureau Report
The sectors spanning crude, petroleum refining, coal, steel, cement and electricity account for nearly 27 per cent of industrial production which saw sluggish growth for most of 2001-02.
India's industrial output between April and February in the last fiscal year was a meagre 2.6 per cent, less than half the 5.4 per cent last year, prompting economists to raise doubts about an economic revival.
Data released by the Commerce and Industry Ministry on Wednesday showed the six core sectors had grown by just three per cent last year compared with 5.1 per cent in the same period last year.
March was the fifth straight month of strong growth but analysts said it was not broad-based enough to pull up overall industrial growth.
Cement grew an impressive 10 per cent year-on-year in March and steel recorded a 5.5 per cent growth while coal was sluggish at 3.8 per cent growth and the refining sector fell by 3.2 per cent.
But analysts said the growth in cement and steel was mainly due to demand from the government's 6,000-km national highway project and reconstruction work in Gujarat which was ravaged by an earthquake last year.
Bureau Report