Eight Core Sector Growth Slips to 2.5% in April
A file image of construction work in progress.
New Delhi: The growth of eight core sectors declined to 2.5 per cent in April mainly due to lower coal, crude oil and cement productions.
The growth rate of eight infrastructure sectors—coal, crude oil, natural gas, refinery products, fertilisers, steel, cement and electricity—was 8.7 per cent in April last year.
As per the government data released on Wednesday, coal, crude oil and cement production recorded negative growth of 3.8 per cent, 0.6 per cent and 3.7 per cent, respectively.
Slow growth in key sectors would also have implications on the Index of Industrial Production (IIP) number as these segments account for about 41 per cent to the total factory output.
Growth in refinery products and electricity output slowed down by 0.2 per cent and 4.7 per cent in April as against 19.1 per cent and 14.5 per cent, respectively in the same period
However, natural gas, fertiliser and steel reported positive growth at 2 per cent, 6.2 per cent and 9.3 per cent, respectively.
The commerce ministry in a statement said the base year of the index of eight core industries has been revised from 2004-05 to 2011-12. "The shift is in line with the new base year of IIP," it said adding the number of industries remain the same as in the 2004-05 series.
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