Core sector expands to a 16-month high of 6.4% in March

On the back of high production rate of fertilizer, cement, petroleum and electricity, the eight core sector industries grew by 6.4 percent in the month of March.

Zee Media Bureau

New Delhi: On the back of high production rate of fertilizer, cement, petroleum and electricity, the eight core sector industries grew to a 16-month high of 6.4 percent in the month of March.

In February, the infrastructure sector growth had grown at a 15-month high of 5.7 percent.

The sectors - coal, crude oil, natural gas, refinery products, fertilisers, steel, cement and electricity - comprising nearly 38 per cent of India's total industrial production, had shrunk to (-)0.7 percent in March last year.

It is the highest monthly growth since November 2014, when these sectors had expanded by 6.7 percent.

During the fiscal 2015-16 as a whole, the eight core sectors grew by 2.7 percent, while it had expanded by 4.5 per cent in 2014-15.

As per government data released today, the infra sector growth in March was backed heavily by 22.9 percent growth in fertilizer production, 11.9 percent in cement and 11.3 in electricity generation.

Coal and steel production also increased by 1.7 percent and 3.4 percent respectively.

However, natural gas production declined by 10.5 percent while growth in crude oil production declined by 5.1 percent.

With PTI Inputs