India’s core sector output expanded at a faster pace of 5.3% in February 2018, against the 0.6% growth recorded in February 2017, mainly helped by a robust performance of refinery products, fertilizer and cement segments. According to data released by the ministry of Commerce and Industry, the combined Index of eight core industries stood at 123.1 in February, 2018, which was 5.3% higher compared to the index of February, 2017. Its cumulative growth during April to February, 2017-18 was 4.3%. The Eight Core Industries - coal, crude oil, natural gas, refinery products, fertilisers, steel, cement and electricity - comprise 40.27% of the weight of items included in the Index of Industrial Production (IIP).
Among eight core sectors, Coal production having 10.33% weight rose 1.4% in February, 2018 over February, 2017, and its cumulative index increased by 1.6% during April to February, 2017-18 over corresponding period of the previous year. Petroleum Refinery production having 28.04% weight jumped 7.8% in February, 2018 over February, 2017 and its cumulative index increased by 4.9% during April to February, 2017-18 over the corresponding period of previous year.
The Natural Gas production having 6.88% weight fell 1.5% in February, 2018 over February, 2017, while its cumulative index was up by 3.1% during April to February, 2017-18 over the corresponding period of previous year. Steel production having 17.92% weight increased by 5.0% in February, 2018 over February, 2017 and its cumulative index jumped by 5.9% during April to February, 2017-18 over the corresponding period of previous year.
Crude Oil production having 8.98% weight declined by 2.4% in February, 2018 over February, 2017 and its cumulative index fell by 0.8% during April to February, 2017-18 over the corresponding period of previous year. Fertilizer production having 2.63% weight surged by 5.3% in February, 2018 over February, 2017, while its cumulative index declined 0.2% during April to February, 2017-18 over the corresponding period of previous year. On the other hand, Cement production having 5.37% weight was up by 22.9% in February, 2018 over February, 2017 and its cumulative index increased by 5.7% during April to February, 2017-18 over the corresponding period of previous year.