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Core sector output grows 3.2% in October
Posted On Nov 30 2015
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In April-October of FY16, the core sector growth was 2.5 per cent against 5.6 per cent expansion seen in the same period past year.
The eight infrastructure sector industries are coal, crude oil, natural gas, refinery products, fertiliser, steel, cement and electricity.
India’s core sector output grew 3.2 per cent in October, the same as in the previous month, but a robust increase in coal and cement output and strong electricity generation provided some cheer.
The output of eight core sector industries increased 3.2 per cent in October, slowing from the 9 per cent pace registered in the year earlier. Its cumulative index during April-October, 2015-16 increased by 4.5 % over the corresponding period of the previous year.
Petroleum refinery production however contracted the most sharply by 4.4 per cent while crude oil production also dipped by 2.1 per cent in October 2015. Its cumulative index during April to October, 2015-16 increased by 0.03% over the corresponding period of previous year.
According to data released by the commerce ministry, crude oil, natural gas, refinery products and steel recorded a negative growth in October.
The Natural Gas production declined by 1.8% in October, 2015. Its cumulative index during April to October, 2015-16 increased by 2.4 % over the corresponding period of previous year.
Steel production (weight: 6.68%) declined by 1.2 % in October, 2015. The good news was a rise in coal and electricity production, with fertiliser and cement output too registering an increase. Its cumulative index during April-October, 2015-16 declined by 0.5 % over the corresponding period of the previous year. Economists and analysts are particularly enthused by the turnaround in the cement sector (11.7% rise), which many believe reflects the pickup in the construction activity. Its cumulative index during April-October, 2015-16 increased by 2.6% over the corresponding period of the previous year. Its cumulative index during April to October, 2015-16 increased by 4.7% over the corresponding period of previous year.
