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Cement leads core sector rebound

New Delhi, April 23 (PTI): Buoyed by impressive performance in cement and steel sectors, the infrastructure industry recorded an impressive 5.2 per cent growth during 2002-03, a 50 per cent increase over the 3.5 per cent growth recorded in the previous year.

This happened despite a slowdown recorded by six infrastructure industries as a group since November 2002, when the month-on-month growth rate fell below the level in the corresponding period of the previous year.

Overall, cement spearheaded infrastructure growth by recording an increase of 8.8 per cent during 2002-03 followed by 8.7 per cent growth in the steel sector, which the analysts attributed to an upsurge in housing and construction activities shaped by proactive government policies.

Petroleum refinery products followed finished steel to record 4.9 per cent growth last fiscal against 3.7 per cent in 2001-02. Coal, crude petroleum and electricity registered growth rates of 4.3 per cent, 3.3 per cent and 3.1 per cent respectively in 2002-03, according to provisional figures released by the government today.

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