Growth in Infrastructure Sector

Growth in Infrastructure Sector

Index of Eight Core Industries (ICI) measures the performance in terms of production of eight industries namely Coal, Crude Oil, Natural Gas, Petroleum Refinery products, Fertilizers, Steel, Cement and Electricity, and compiled using 2004-05 as base year. In January, 2015, the ICI recorded relatively low growth rate at 1.8 % compared to 2.4 % in December, 2014 and also compared to few earlier months.

The low growth registered in ICI in January, 2015 was mainly on account of negative growth registered in Crude Oil and Natural Gas. The reasons for shortfall in Crude Oil production are, inter-alia, less gain from development side track wells, delay in commencement of production from some clusters, repeated sand ingress in some wells requiring frequent well shut-in, etc. The reasons for decline in Natural Gas production are, inter-alia, less offtakes by consumers, closure of some wells, delay in commencement of production from some clusters, delay in receipt of forest clearance for Raniganj East field, etc.

As per the data on export maintained by Department of Commerce, no separate classification for infrastructure sector is made.

The share of export in Gross Domestic Product (GDP) depends on various external and internal factors. No estimates as such are made about likely share of exports in GDP for future years. It is the endeavour of the Government to promote exports. Exports are supported through schemes of Foreign Trade Policy as well as various promotional schemes of concerned Ministries/Departments. The schemes of Foreign Trade Policy are Focus Market Scheme, Market Linked Focus Product Scheme, Focus Product Scheme and Duty Drawback Scheme. Exporters can also avail of duty free import of capital goods under Export Promotion Capital Goods (EPCG) Scheme and raw materials under Advance Authorisation Scheme. The Government of India continuously monitors the export performance of different sectors and takes need based measures from time to time, keeping in view the financial and overall economic implications.

This information was given by the Minister of State (Independent Charge) in the Ministry of Commerce & Industry Smt. Nirmala Sitharaman in a written reply in Lok Sabha today.