Petro sector drives infrastructure growth in 2006-07
A turnaround in crude oil output and higher production by refineries pushed the growth of six infrastructure industries to 8.6 per cent in 2006-07 as against 6.2 per cent in the previous year.
The crude production, which had declined 5.3 per cent in 2005-06, increased by 5.6 per cent in 2006-07. Similarly, the output of refineries grew 12.6 per cent in FY07 as compared to 2.4 per cent in 2005-06.
In March 2007, the growth of the core sector was 10 per cent as against 7.1 per cent in the same month last year.
The increase in growth during the last month of 2006-07 was due to better performance of steel, whose production increased by 15 per cent. Besides, electricity grew at eight per cent and refinery at 13.4 per cent.
The growth in production of cement, however, fell in March 2007 to 5.5 per cent from 17 per cent in the same period last year.