Infra output grows 4 pc in Dec -17

India’s infrastructure output grew four per cent in December 2017 from a year ago, Index of Industrial Production (IIP) data showed.

The growth in output compares with an upwardly revised 7.4 per cent year-on-year growth in November.

Growth in steel and power generation lagged, while Refinery products, natural gas, fertiliser and cement recorded healthy growth.

Growth in steel and electricity generation slowed to 2.6 per cent and 3.3 percent respectively in December last year as against 15.9 per cent and 6.4 per cent in the same month of 2016.

On Wednesday, just a day ahead of the Union Budget, the growth figures of eight core sectors showed a disappointing five –month low of 4 per cent in December 2017.It was more due to negative performance of segments like coal and crude oil.

The output of coal and crude oil sectors contracted 0.1 per cent and 2.1 per cent respectively during the month under review.

But experts say the figures were volatile owing to Goods and Services Tax (GST) destocking and restocking.

These eight industries — coal, crude oil, natural gas, refinery products, fertilisers, steel, cement and electricity — had witnessed a growth of 5.6 percent in December 2016.

Cumulatively, the growth in the eight core sectors during April-December this fiscal slowed to 4 per cent as against 5.3 per cent in the same period last fiscal. The eight core industries account for just 40 per cent of total industrial output captured by the IIP.

 

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