Growth improves to 4.3% in April-October 2014
The output of eight core industries, having a combined weight of 37.90% in the Index of Industrial Production (IIP), galloped 6.3% in October 2014. Coal production shot up 16.2%, while the electricity generation zoomed 13.2% in October 2014 over October 2013, mainly contributing to the healthy growth in the output of overall eight core industries.The production of steel increased 2.3% in October 2014. Further, the output for both crude oil as well as refinery products increased 1% and 4.2% respectively snapping decline for last three sequential months.
However, the output continued to decline for natural gas at 4.2% and fertilizers at 7% in October 2014. Meanwhile, the output of cement fell 1%, after healthy growth for last many months.
The core sectors output growth stood at 4.3% in April-October 2014 compared with 4.2% growth in the corresponding period last year. The growth was mainly contributed by surge in the output of coal 8.5%, electricity 10.5%, steel 2.3% and cement 8.1%, while the output of crude oil 0.9%, natural gas 5.6%, fertilizers 1.1%, and petroleum refinery 1.7% declined in April-October 2014.
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