India's core sector growth rises 4.7% in March

02 May 2019 Evaluate

The growth of India's eight core sectors has improved marginally to 4.7% in March 2019 against 4.5% in the same month last year, helped by a broad-based recovery in sectors such as cement, refinery products, steel, and coal. According to data released by the ministry of Commerce and Industry, the combined Index of eight core industries stood at 145.0 in March, 2019, which was 4.7% higher compared to the index of March, 2018. Its cumulative growth during April to March, 2018-19 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 9.1% in March, 2019 over March, 2018, and its cumulative index increased by 7.3% during April to March, 2018-19 over corresponding period of the previous year. Petroleum Refinery production having 28.04% weight surged 4.3% in March, 2019 over March, 2018, and its cumulative index increased by 3.1% during April to March, 2018-19 over the corresponding period of previous year.

The Natural Gas production having 6.88% weight increased by 1.4% in March, 2019 over March, 2018, and its cumulative index was up by 0.8% during April to March, 2018-19 over the corresponding period of previous year. Besides, Steel production having 17.92% weight jumped by 6.7% in March, 2019 over March, 2018 and its cumulative index increased by 4.7% during April to March, 2018-19 over the corresponding period of previous year. Electricity generation having 19.85% weight increased by 1.4% in March, 2019 over March, 2018 and its cumulative index increased by 5.1% during April to March, 2018-19 over the corresponding period of previous year.

Cement production having 5.37% weight jumped 15.7% in March, 2019 over March, 2018 and its cumulative index increased by 13.3% during April to March, 2018-19 over the corresponding period of previous year. Fertilizer production having 2.63% weight increased by 4.3% in March, 2019 over March, 2018, and its cumulative index was up by 0.3% during April to March, 2018-19 over the corresponding period of previous year. Crude Oil production having 8.98% weight decreased by 6.2% in March, 2019 over March, 2018 and its cumulative index fell by 4.1% during April to March, 2018-19 over the corresponding period of previous year.

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