Eight core industries, including coal, crude oil, natural gas, fertilisers, cement, electricity, steel and petroleum refinery products, posted 7.3 per cent growth in June 2014, as per a government release. This was led by a double-digit rise in electricity generation and cement production.
This is the fastest growth of these core industries since September last year when it had risen 8 per cent. Post that, the core industries posted a negative growth of 0.6 per cent in October and since then they have been growing at a slow pace sporting single-digit rate.
The core industries, which have a combined weight of 37.90 per cent in the Index of Industrial Production (IIP), have recorded growth of 4.6 per cent in the first quarter of the current financial year against 3.7 per cent in Q1 2013-14.
In the first quarter, electricity sector had the highest growth of 10.9 per cent followed by cement (9.5 per cent), fertilisers (8.6 per cent) and coal (5.6 per cent).
However, natural gas, crude oil and refinery products registered negative growth in April-June period. In the same period last year, steel was the big growth factor while natural gas production slid much faster.
(Edited by Joby Puthuparampil Johnson)