New Delhi/Deepak Mandal: Decline in core infra is worrisome as the growth has been witnessing a subsiding trend since November 2014, said Mr. Alok B Shriram, President, PHD Chamber in a press statement issued here today.
The core infra has declined to (-)0.1% (Y-O-Y) in March 2015 as compared to 1.4% (Y-O-Y) in February 2015. There has been a decline in almost all lead indicators such as Coal from 11.6% in February 2015 to 6% in March 2015, Refinery products from -1% in February 2015 to -1.3% in March 2015, Cement from 2.7% in February 2015 to -4.2% in March 2015 and Electricity from 5.2% in February 2015 to 1.7% in March 2015.
The lead indicators for the construction sector such as cement and steel are decelerating significantly and indicating slowdown in economic activity, said Mr. Shriram.
In cumulative terms also, core infrastructure industries declined from 4.2% during April-March 2013-14 to 3.5% during April- March 2014-15.
At this juncture, there is a strong need to push the dynamic policy regime at the ground level to refuel demand especially the rural demand, he said.