Core sector growth up 5.3% in Feb as cement, refinery output pick up

Source: The Hitavada      Date: 03 Apr 2018 11:06:33




EIGHT infrastructure sectors grew by 5.3 per cent in February, mainly helped by a robust performance of refinery products, fertiliser and cement segments.The eight infrastructure sectors -- coal, crude oil, natural gas, refinery products, fertilisers, steel, cement and electricity -- had grew by just 0.6 per cent in February 2017. The core sectors expanded by 6.1 per cent in January.Petroleum refinery production spurted 7.8 per cent in February against a negative growth rate of 2.8 per cent in the year-ago month, according to the official data released on Monday.

Fertiliser and cement production rose by 5.3 per cent and 22.9 per cent, respectively, during the month under review. Electricity generation, too, grew by 4 per cent in February against 1.2 per cent expansion in February 2017. Coal and steel production growth slowed to 1.4 per cent and 5 per cent respectively during February against 6.6 per cent and 8.7 per cent respectively in the same month last year. Cumulatively, the eight core sectors grew by 4.3 per cent in April-February 2017-18 against 4.7 per cent in same period last fiscal. Core sector would have an impact on Index of Industrial Production data.