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Core sector logs in 8.3% growth during Apr-Oct - Views on News from Equitymaster
 
 
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  • Nov 30, 1999

    Core sector logs in 8.3% growth during Apr-Oct

    According to newspaper reports, the core sector industries, comprising steel, cement, power, petroleum refining, crude petroleum and coal, recorded a growth of 8.3% (YoY) during April to October 1999. The core sectors had recorded a growth of 5.7% during the corresponding period last year.

    The growth figures assume importance when compared to the growth of 6.6% (YoY) recorded during the first half of the current year. In the month of October, the growth posted by the core sectors topped 8.9% (YoY).

    The performances of various sectors that comprise this group are at best mixed. Steel and cement have posted high rates of growth even as two crucial sectors, crude petroleum and coal have disappointed. While power generation continues to grow at a slower rate, the petroleum refining sector has benefited from the commissioning of large capacities.

    The slower growth in the power sector is a cause for concern as this could develop into a larger crisis as the economy gains pace.

     

     

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