Output of the six core
infrastructure industries grew by a healthy 6.6 per cent in December 2010, an indicator that the
Indian economy is on a firm wicket.
The six core sectors - crude oil, petroleum refinery products, coal, electricity, cement and finished steel - had expanded by 6.2 per cent in December 2009.
The 6.6 per cent growth charted in December 2010, is significantly higher than the 3 per cent expansion recorded in the previous month (November 2010) and will definitely lift the index of industrial production (IIP) numbers for December.
Industrial output, as measured by IIP, had sunk to an 18-month low of 2.7 per cent in November 2010.
These core industries account for 26.68 per cent of the country's total industrial output.
Petroleum refinery output grew 8.3 per cent, while production of coal registered 3 per cent growth in the month reviewed, data released by the Industry Ministry on Monday revealed.
However, growth in cement production slowed to 2.2 per cent in December, compared to 11 per cent expansion in December 2009. Finished steel production grew 11.2 per cent in December 2010, from 9.6 per cent in the comparable period a year ago.
In addition, crude oil production witnessed a significant jump during the last month of the 2010 calendar year, rising 15.8 per cent. In comparison, crude output rose just 1.1 per cent in December 2009.
During the first nine months of the current financial year, the six core industries registered average growth of 5.3 per cent, compared to 4.7 per cent expansion in April-December 2009.
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