Home World Business March core sector output rises to 5%, fastest in 3 months

March core sector output rises to 5%, fastest in 3 months

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A worker welds iron rods to build a seawall along a river at the construction site of residential and commercial buildings in Ahmedabad

The eight core industries grew by 5% in March, fastest in three months, on the back of higher coal and steel production.

The growth rate of eight infrastructure sectors — coal, crude oil, natural gas, refinery products, fertilisers, steel, cement and electricity — was however lower than 9.3% recorded in March last year.

As per the government data released today, coal production increased by 10% in March as against 2.5% a year ago.

Steel (alloy + non-alloy) production was up 11% while it had expanded by 7.8% in March 2016.

Electricity generation was up by 5.9%. Crude oil and natural gas production was 0.9% and 8.3%, on annual basis.

On the other hand, cement production declined by 6.8% in March this and also fertiliser output (-0.8%).

There was also decline in production of refinery products (- 0.3%).

The core industries, which contribute 38% to the total industrial production, had expanded by 1% in February and 3.4% in March. The expansion was recorded at 5.6% in December.

On cumulative basis, the infrastructure industries grew by 4.5% last financial year ended March 2017, higher than 4% recorded in the previous fiscal.
 

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