(a) whether growth rate is declining in the core sectors;
(b) if so, the details thereof for the last three years alongwith
the reasons therefor; and
(c) steps/measures taken/proposed to be taken by the Government to
improve the growth rate in core sectors?
MINISTER OF STATE IN THE MINISTRY OF FINANCE (SHRI NAMO NARAIN MEENA)
(a) & (b): The rate of growth of eight core sectors improved from
2.8% in 2008-09 to 6.6% in 2009-10. It moderated to 5.8% in 2010-11. In
2011-12 (Apr-Feb), eight core sectors recorded a growth of 4.4% compared
to a growth of 5.8% in the corresponding period of 2010-11. Lower growth
rate during 2011-12 has mainly been due to a lower growth in crude petroleum,
natural gas and steel sectors.
(c): Government has initiated several steps to augment the production
of core sectors by promoting state of the art technologies and by augmenting
resources for exploration and mining through private sector participation.
To facilitate development of necessary infrastructure, Viability Gap Finding,
under the Scheme for support to PPP, has been extended to capital investment
in fertilizers sector, oil and gas storage and pipelines facilities. To remove
the fuel supply constraints affecting the power generation, the government has
advised the Coal India Limited to sign fuel supply agreements with the power
plants. In the Budget 2012-13, full exemption from basic duty has been
provided to fuels such as natural gas, liquefied natural gas, uranium
concentrate etc. imported for power generation. Further, basic customs
duty on surveying and prospecting machinery and instruments imported for
use in the mining sector has been reduced. Full exemption from basic customs
duty has been provided to coal mining projects.