Core sector in India grows at strong 6.4% in MarchStaff writer ▼ | May 4, 2016
In a sign of economic revival picking up pace, India’s eight key infrastructure sector grew a 16-month high in March at 6.4%.
Asia The Commerce Ministry of India:
“The combined Index of eight core industries stands at 188.0 in March 2016, which is 6.4 % higher compared to the index of March 2015. Its cumulative growth during April-March, 2015-16, was 2.7%,” the Commerce Ministry said.
The sectors — coal, crude oil, natural gas, refinery products, fertilisers, steel, cement and electricity — comprising nearly 38% of total industrial production, had shrunk to (-)0.7% in March last year.
It is the highest monthly growth since November 2014, when these sectors had expanded by 6.7%.
Coal production increased by 1.7% year-on-year in March. Petroleum refinery production increased by 10.8% , fertilizer by 22.9%, steel by 3.4% and cement by 119%, while electricity too grew over 11%.
Crude oil production decreased by 5.1% , natural gas production too deceased marginally, the data showed. ■