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Infrastructure growth slips to 5.3 p.c. in June

Special Correspondent

NEW DELHI: The growth of the six core infrastructure industries slipped to 5.3 per cent in June from 7.7 per cent during the same month a year ago, mainly on account of a fall in crude oil production along with a deceleration in the output of other products.

According to official data released here on Friday, the growth of these six core industries, accounting for a combined weight of 26.7 per cent in the index of industrial production (IIP), was lower at 6.9 per cent during the April-June quarter this fiscal as compared to 7.4 per cent in the same quarter in the previous year.

Chain effect

Except electricity, which saw a growth of 6.8 per cent in June as compared to 4.9 per cent during the same month last year, all the other industries, namely, crude oil production, petroleum refinery products, coal, cement and finished steel, posted lower growth rates.

In a chain effect, the slowdown in these infrastructure industries could have a direct adverse impact on the overall economic growth coupled with an indirect hit on other industrial sectors which are dependent on these core sectors for raw inputs.

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