New Delhi: The economic data released on Wednesday has indicated slow economic growth rate for financial year 2011-12 as the six core sectors’ output registered a much slower growth in April at 5.2 per cent against 7.5 per cent in corresponding period of the previous year.

The output in core sectors, especially cement, coal and steel suffered a setback in April which resulted in a slowdown of economy.

The statistics of Gross Domestic Product (GDP) for the fourth quarter of 2010-11 has proved that economic growth rate has slumped. The growth rate may further go down for the current financial year 2011-12.

According to the provisional data released on Wednesday, cement output in April declined by 1.1 per cent, while coal and steel production rose by only 2.9 per cent and 4.3 per cent, respectively.

In April 2010, cement had recorded a growth of 8.8 per cent and steel had grown by 12.9 per cent. Coal output, however, was down 2.9 per cent in April 2010.

However, productions of crude oil and petroleum refinery products have picked up momentum. The growth rate of crude oil registered at 11 percent in April this year against 5.1 percent for the corresponding period of the last year.

Similarly, the growth rate of petroleum refinery products was registered at 6.6 percent in April which remained at 5.3 percent for the same period last year.

Core industries include cement, coal, finished steel, crude oil, petroleum refinery and electricity.

 

(JPN/Bureau)