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

Tuesday, April 03, 2018

Eight infrastructure sectors grew by 5.3% 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% in February 2017. The core sectors expanded by 6.1% in January.

Petroleum refinery production spurted 7.8% in February against a negative growth rate of 2.8% in the year-ago month, according to the official data released yesterday.

Fertiliser and cement production rose by 5.3% and 22.9%, respectively, during the month under review.

Electricity generation too grew by 4% in February against 1.2% expansion in February 2017.

Coal and steel production growth slowed to 1.4% and 5% respectively during February against 6.6% and 8.7% respectively in the same month last year.

Cumulatively, the eight core sectors grew by 4.3% in April-February 2017-18 against 4.7% in the same period last fiscal.

The core sector would have an impact on the Index of Industrial Production (IIP) data as these eight segments account for about 41% of the total factory output.

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