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The growth of the eight core sectors slowed down to 2.6 per cent in August 2015 (year-on-year) compared with 5.9 per cent posted in the same month last year, largely owing to poor performance of the steel and coal sectors.
The growth in output of the eight infrastructure sectors – which include coal, steel, electricity, crude oil, natural gas, fertiliser, cement and refinery products – was, however, higher than the 1.1 per cent rise registered last month. The sectors account for 38 per cent of total industrial production.
Steel output declined 5.9 per cent in August 2015 compared to a 9.4 per cent growth in the same month last year. Coal production growth slowed down to 0.4 per cent against 13.2 per cent growth last August, according to figures released by the Commerce and Industry Ministry on Wednesday.
Other sectors which witnessed a deceleration in growth in August include cement and electricity. Cement output increased by 5.4 per cent in August compared with 10 per cent last August, whereas electricity output grew 5.6 per cent (12.9 per cent).
Crude oil, natural gas, refinery products and fertilisers posted higher year-on-year growth. Crude oil production increased by 5.6 per cent in August, compared with a fall of 4.9 per cent the same month last year, natural gas production increased 3.7 per cent compared to a 8.1 per cent fall last year, refinery products increased 5.8 per cent compared to a decline of 4.4 per cent last year while fertiliser production increased 12.6 per cent compared to a fall of 4.3 per cent last August.
During the April-August period of the current fiscal, the core sectors’ output expanded by 2.2 per cent as against 5.6 per cent in the first five months of the previous fiscal.
In March and April this year, the eight sectors contracted 0.1 per cent and 0.4 per cent respectively. However, in May and June the core sectors expanded by 4.4 per cent and 3 per cent respectively.
The overall growth of eight core industries in fiscal 2014-15 was 3.5 per cent compared with 4.2 per cent the year before.
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