Core sector industries clock 5.2 per cent growth in March
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The eight core industries, which include sectors such as coal, cement, steel and electricity, posted a 5.2 per cent growth in March this year compared to the same month of the previous year, according to data released by the Commerce and Industry Ministry on Tuesday.
Cement production recorded a double-digit 10.6 per cent growth during the month on the back of increased demand from big infrastructure projects and pick-up in the real estate sector. Steel production also increased by 5.5 per cent during the month.
Coal production went up by 8.7 per cent in March, while electricity generation increased by 8 per cent during the month.
Natural Gas production recorded a 6.3 per cent growth in March while crude oil production increased by 2 per cent. However, petroleum refinery production declined marginally by 0.3 per cent during the month.
Fertiliser production also recorded a dip of 1.3 per cent in March.
The cumulative growth rate of the index of the eight core industries for the full year 2023-24 now works out to 7.5 per cent as compared to the previous year. These core industries comprise 40.27 per cent of the weight of items included in the Index of Industrial Production (IIP) and give a pointer to the overall industrial growth rate.
