Core sector industries grow 4.1% in March

The growth of India’s core industries slowed to 4.1 per cent in March as output of refinery products, fertilisers, steel and cement moderated. Core sector had grown 5.4 per cent in February and 5.2 per cent in March last year.Official data released by commerce and industry ministry on Tuesday showed growth only in the production of natural gas and coal. The eight infrastructure sectors of coal, crude oil, natural gas, refinery products, fertilisers, steel, cement and electricity, constitute 40.27 per cent of the total industrial production.For the full year, core sector growth was 4.2 per cent compared with 4.8 per cent in 2016-17.While coal output rose 9.1 per cent , natural gas production increased 1.3 per cent after having declined for two months in a row.Crude oil output, which has been falling for the last four months, fell 1.6 per cent in March.Refinery production increased a mere 1 per cent compared with 7.8 per cent rise in February whereas fertiliser output grew 3.2 per cent vis-à-vis 5.2 per cent .Steel and cement output was up 4.7 per cent and 13 per cent , respectively in March, lower than the 5 per cent and 23 per cent registered in February.

from The Economic Times https://ift.tt/2rcCOTL