India's core sector growth touches 11-month high of 5.5% in February

01 Apr 2020 Evaluate

India's eight core sectors have recorded a growth of 5.5 percent in February 2020, highest in 11-months, mainly due to healthy expansion in output of coal, refinery products and electricity. The eight core sector industries had expanded by 2.2 percent in February last year. According to data released by the ministry of Commerce and Industry, the combined Index of eight core industries stood at 132.9 in February, 2020, which was 5.5% higher compared to the index of February, 2019. 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 percent weight increased by 10.3 percent in February, 2020 over February, 2019, while its cumulative index decreased by 1.2 percent during April to February, 2019-20 over corresponding period of the previous year. Petroleum Refinery production having 28.04 percent weight surged 7.4 percent in February, 2020 over February, 2019, and its cumulative index rose by 0.3 percent during April to February, 2019-20 over the corresponding period of previous year.

Electricity generation having 19.85 percent weight rose 11.0 percent in February, 2020 over February, 2019 and its cumulative index increased by 1.8 percent during April to February, 2019-20 over the corresponding period of previous year. Cement production having 5.37 percent weight increased by 8.6 percent in February, 2019 over February, 2018 and its cumulative index rose by 1.8 percent during April to February, 2019-20 over the corresponding period of previous year. Fertilizer production having 2.63 percent weight increased by 2.9 percent in February, 2020 over February, 2019, and its cumulative index was up by 4.1 percent during April to February, 2019-20 over the corresponding period of previous year.

Steel production having 17.92 percent weight declined by 0.4 percent in February, 2020 over February, 2019, while its cumulative index surged by 5.0 percent during April to February, 2019-20 over the corresponding period of previous year. Crude Oil production having 8.98 percent weight fell by 6.4 percent in February, 2020 over February, 2019 and its cumulative index dropped by 6.0 percent during April to February, 2019-20 over the corresponding period of previous year. The Natural Gas production having 6.88 percent weight declined by 9.6 percent in February, 2020 over February, 2019, and its cumulative index was down by 4.8 percent during April to February, 2019-20 over the corresponding period of previous year.

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