Core Sector Grows Marginally at 4.5%

Power, coal and crude oil sectors help core industries post improved show in February

Published: 11th April 2014 08:42 AM  |   Last Updated: 11th April 2014 08:42 AM   |  A+A-

The performance of eight core sector industries grew by 4.5 per cent in February on the back of good electricity generation, which was up 10.4 per cent in February compared with the same period last year when the sector registered a de-growth of (-) 3.7 per cent. Growth in coal and crude oil also helped in improved performance of core sector.

The Index of eight core industries grew 1.6 per cent in January this year. The eight core industries -- fertilisers, cement, steel, electricity, crude oil, coal, petroleum refinery products and natural gas — have a combined weight of about 38 per cent in the Index of Industrial Production.

However, in April- February of this financial year the core sector growth slowed down to 2.6 per cent during compared with 6.4 per cent in the same period of 2012-13.

Electricity generation grew exponentially by 10.4 per cent in the month under review as against (-) 3.7 per cent in February 2013.

Output of coal and crude oil registered a growth of 0.1 per cent and 1.9 per cent against (-) 6.1 per cent and (-) 4 per cent, respectively.

Steel production recorded a marginal growth of 4.8 per cent, while the expansion in cement production slowed to 2.3 per cent. Natural gas registered a negative growth of 4.4 per cent and refinery products generation expanded 3.2 per cent.

Industrial output entered positive territory and recorded a 0.1 per cent growth in January after contracting for three months in a row.

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