Zee Media Bureau/Rd. Alexander
New Delhi: Despite the 5.7 percent GDP growth in the first quarter of 2014-15, the eight core sector industries growth slowed to 2.7 percent in July, compared to the 5.3 percent growth in the same month in the previous year.
The accumulative growth during the April-June 2014 period stood at 4.1 percent.
During the month of July, while coal production, cement and electricity productions increased, the growth as pulled down by the decline in production of crude oil, natural gas, petroleum products, fertilizer and steel products.
As per a government data on released on Monday, coal production grew by 6.2 percent, cement production increased by 16.5 percent and electricity production grew by 11.2 percent during July.
The date also showed that crude oil production declined by 1.0 percent, natural gas declined by 9.0 percent, Petroleum refinery production declined by 5.5 percent, fertilizer by 4.2 percent and steel by 3.4 percent in July.
These core sectors account for 37.9 percent of the Index of Industrial Production (IIP).
In June, the core sector industries grew by 7.3 percent helped by healthy growth in coal, crude oil, cement and electricity.
However, in May, the core sector growth had declined by 2.3 percent, the lowest in 4 months then.
