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


Eight infrastructure sectors grew by 5.3 percent 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 percent in February 2017. The core sectors expanded by 6.1 percent in January. Petroleum refinery production spurted 7.8 percent in February against a negative growth rate of 2.8 percent in the year-ago month, according to the official data released today.

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

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

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

Cumulatively, the eight core sectors grew by 4.3 percent in April-February 2017-18 against 4.7 percent 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 percent of the total factory output.moneycontrol