Eight core sectors growth up 5.5 per cent in February, highest in 11 months

By: |
March 31, 2020 6:14 PM

The eight core sector industries -- coal, crude oil, natural gas, refinery products, fertiliser, steel, cement and electricity -- had expanded by 2.2 per cent in February last year.

Output of coal, refinery products and electricity grew by 10.3 per cent, 7.4 per cent, and 11 per cent, respectively, during the month under review.Output of coal, refinery products and electricity grew by 10.3 per cent, 7.4 per cent, and 11 per cent, respectively, during the month under review.

Eight core sector industries recorded a growth of 5.5 per cent in February, highest in 11-months, mainly due to healthy expansion in output of coal, refinery products and electricity, according to a government data released on Tuesday.

The eight core sector industries — coal, crude oil, natural gas, refinery products, fertiliser, steel, cement and electricity — had expanded by 2.2 per cent in February last year.

Last time, it was in March 2019, when these eight sectors recorded a growth of 5.8 per cent. In January this year, these sectors grew by 1.4 per cent.

These industries comprise 40.27 per cent of the weight of items included in the Index of Industrial Production (IIP).

Output of coal, refinery products and electricity grew by 10.3 per cent, 7.4 per cent, and 11 per cent, respectively, during the month under review.

However, crude oil, natural gas, and steel recorded negative growth rate in February. Fertiliser and cement output grew by 2.9 per cent and 8.6 per cent, respectively.

For April-February period, the eight sectors growth rate declined to 1 per cent as against 4.2 per cent in the same period last year.

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