Core Sector Records 2.2% Growth In Oct

The index of six infrastructure industries slipped once again, posting a 2.2 per cent growth during October this year compared to 10.7 per cent in the same month last year and 5 per cent in September 2001.

As a result of the slowdown in October 2001, the index grew 1.7 per cent during the first seven months of the current fiscal as against 7.4 per cent during April-October 2000-01, according to the data released by the government today.

Petroleum refinery products and electricity were the major losers in October. A slump in industrial demand saw petroleum refinery products decreasing by 3.3 per cent compared to 35.2 per cent growth in the October last year. Electricity sector also posted a decrease of 0.6 per cent during October 2001, compared to a growth of 11.5 per cent in the same period last year.

Coal was the only sector in October to post a higher growth rate compared to last year. This October, the coal sector grew by 9.2 per cent in comparison to last year's 4.7 per cent.

Crude petroleum growth slipped to 1.1 per cent in October 2001 as against 4 per cent in the same month last year.

Growth in finished steel was lower, with the sector posting a 5.3 per cent growth in October this year compared to 6.6 per cent growth in the same month in 2000.

Cement growth halved to 6.1 per cent in October 2001 from 12.6 per cent in October 2000. Buoyed by a 17. 8 per cent growth in the cement sector during Septmeber this year, the index of infrastructure industries grew by 5 per cent, as against 6.5 per cent in the same period last year and 0.8 per cent in August this year.