05-02-2022 11:12 AM | Source: Accord Fintech
Output of eight core sectors slows down to 4.3% in March
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The growth of eight core infrastructure industries slowed down to 4.3 per cent in March against 12.6 per cent in the year-ago period due to a decline in the output of coal and crude oil. Though for the full 2021-22 fiscal, the core sector recorded a 10.4 per cent expansion as compared to a contraction of 6.4 per cent in 2020-21. The Eight Core Industries - coal, crude oil, natural gas, refinery products, fertilizers, steel, cement and electricity - comprise 40.27 percent of the weight of items included in the Index of Industrial Production (IIP).

Natural Gas production having 6.88 per cent weight increased by 7.6 per cent in March, 2022 over March, 2021 and its cumulative index increased by 19.2 per cent during April to March, 2021-22 over the corresponding period of previous year. Petroleum Refinery production having 28.04 per cent weight increased by 6.2 per cent in March, 2022 over March, 2021 and its cumulative index increased by 8.9 per cent during April to March, 2021-22 over the corresponding period of previous year. Fertilizers production having 2.63 per cent weight increased by 15.3 per cent in March, 2022 over March, 2021 and its cumulative index increased by 0.7 per cent during April to March, 2021-22 over the corresponding period of previous year.

Steel production having 17.92 per cent weight increased by 3.7 per cent in March, 2022 over March, 2021 and its cumulative index increased by 16.9 per cent during April to March, 2021-22 over the corresponding period of previous year. Cement production having 5.37 per cent weight increased by 8.8 per cent in March, 2022 over March, 2021 and its cumulative index increased by 20.8 per cent during April to March, 2021-22 over the corresponding period of previous year. Electricity generation having 19.85 per cent weight increased by 4.9 per cent in March, 2022 over March, 2021 and its cumulative index increased by 7.8 per cent during April to March, 2021-22 over the corresponding period of previous year.

On the flip side, Coal production having 10.33 per cent weight declined by 0.1 per cent in March, 2022 over March, 2021, while its cumulative index increased by 8.5 per cent during April to March, 2021-22 over corresponding period of the previous year. Crude Oil production having 3.4 per cent weight declined by 3.4 per cent in March, 2022 over March, 2021 and its cumulative index declined by 2.6 per cent during April to March, 2021-22 over the corresponding period of previous year.