The six infrastructure industries, which account for 26.7
per cent weight in the index of industrial production (IIP), recorded 6.9 per
cent increase in output during August. The performance came over a 10 per cent
rise in the preceding month and over 5 per cent average rise in the first three
months of the current fiscal. The average growth of 6.7 per cent during
April-August 2002 was also vastly better than one per cent nominal rise recorded
a year ago.
Going by this robust performance of the infrastructure
industries in first five months and the more broad- based index of industrial
production during the first four months of the current fiscal, it would appear
that the industry has by and large battered the initial impact of the drought
described as one of the worst in past several years.
All six industries recorded
YoY improvement in growth rates during August as also during the first
five months of 2002-03.
Cement output increased by 12.2 per cent in August, which
came after a new recent high growth rate of 23.5 per cent in July. The average
growth during April-August 2002 worked out to 11.6 per cent.
Finished steel was another bright spot with its growth rate
accelerating to 13.2 per cent in August, from 10.4 per cent in July and 7.6 per
cent in June. The average growth during April-August worked out to 8.9 per cent.
Coal output increased by 5.9 per cent in August, which came
after a double-digit growth in June-July. The average growth during April-August
worked out to 7.6 per cent.
Electricity generation increased by 3.8 per cent, reversing
the rising trend of past two months. The growth rate for the month as for the
first five months of the current fiscal were however better than their
respective levels in the preceding year. Reflecting poor southwest rains,
hydropower declined by 24 per cent in August, against 19 per cent in July. The
loss was made good by the stepped up thermal generation, which increased by 12
per cent each in July and August. Thermal power accounted for 80 per cent of
total power from public utilities during 2001-02, hydro accounted for 16 per
cent and nuclear 4 per cent
Petroleum products sub-group increased by around 6.6 per
cent in July-August. June had seen a dip in the growth to 2.6 per cent from an
average growth of 8 per cent in April-May. The fiscal 2001-02 had witnessed
considerable volatility with the industry recording 3.5 per cent average growth
during the year.
In crude petroleum oil, the positive YoY growth, which had
started from September 2001, continued in the current fiscal also. The average
growth during April-August 2002 worked out to 6.3 per cent.
Production Performance of Six Infrastructure Industries
|
|
(Year-over-Year
% change )
|
|
|
Weight
|
August
|
April-August
|
|
|
(%)
|
2002
|
2001
|
2002-03
|
2001-02
|
|
|
|
|
|
|
|
|
Electricity
|
10.17
|
3.8
|
2.8
|
4.1
|
2.9
|
|
Coal
|
3.22
|
5.9
|
2.2
|
7.6
|
0.7
|
|
Finished
Steel
|
5.13
|
13.2
|
-4.4
|
8.9
|
-0.9
|
|
Crude
Petroleum
|
4.17
|
8.5
|
-5.7
|
7.5
|
-4.5
|
|
Petroleum
Products
|
2.00
|
6.7
|
6.6
|
6.2
|
5.6
|
|
Cement
|
1.99
|
12.2
|
6.9
|
11.6
|
1.2
|
|
Overall
|
26.68
|
6.9
|
1.3
|
6.7
|
1
|
Email:
mskapadia@projectstoday.com
