Eight Core Sector registered 8 Per Cent Growth in May 2012
Economy Current Affairs 2012. The eight core sectors registered a higher growth rate of 3.8 per cent in May 2012
As per the latest data released by the commerce and industry ministry on 29 May 2012, the eight core sectors registered a higher growth rate of 3.8 per cent in May 2012. The sector had posted a sluggish 2.2 per cent growth in April 2012.
The infrastructure sector had witnessed a 5.8 per cent growth in May 2011. However, the collective growth of infrastructure sector in April-May 2012 stood at 4.2 per cent, against 5 per cent in the corresponding period during the fiscal year 2011-12.
The growth rate of cement and coal industries soared up by 11.3 per cent and 8 per cent, respectively, while production of natural gas and fertiliser during May 2012 shrunk by 10.8 per cent and 15.1 per cent, respectively. The growth of petroleum refinery products and crude oil decelerated to 2.9 per cent and 0.5 per cent. Similarly, the steel and electricity sector also registered a declined growth rate at 4.9 per cent and 5.2 per cent in May 2012.
The eight industries - steel fertilisers, coal, petroleum refinery products, crude oil, natural gas, electricity and cement - collectively amounts 37.9 per cent of the Index of Industrial Production (IIP).