Eight Core Sectors Grew By 5.5% In February, Most In 11 Months
Coal being loaded inside a steel factory in India. (Photographer: Dhiraj Singh/Bloomberg)

Eight Core Sectors Grew By 5.5% In February, Most In 11 Months

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Eight core sector industries recorded a growth of 5.5 percent in February, the highest in 11-months, mainly due to healthy expansion in output of coal, refinery products, and electricity, according to a government data released on Tuesday.

The eight-core sector industries -- coal, crude oil, natural gas, refinery products, fertiliser, steel, cement, and electricity -- had expanded by 2.2 percent in February last year. Last time, it was in March 2019, when these eight sectors recorded a growth of 5.8 percent. In January this year, these sectors grew by 1.4 percent. These industries comprise 40.27 percent of the weight of items included in the Index of Industrial Production.

Also read: India’s Fiscal Deficit In April-February Reaches 135% Of 2019-20 Target

The output of coal, refinery products, and electricity grew by 10.3 percent, 7.4 percent, and 11 percent, respectively, during the month under review. However, crude oil, natural gas, and steel recorded a negative growth rate in February. Fertiliser and cement output grew by 2.9 percent and 8.6 percent, respectively. For the April-February period, the eight sectors' growth rate declined to 1 percent as against 4.2 percent in the same period last year.

Also read: India To Borrow Rs 4.88 Lakh Crore In First Half Of FY21

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