India’s core sector growth slows to 2.6% in April 2019

Growth of eight core sectors slowed to 2.6 per cent in April compared to 4.7 in same month last year, government data showed.

The eight core industries comprise 40.27 per cent of the weight of items included in the Index of Industrial Production (IIP).

The combined Index of Eight Core Industries stood at 127.5 in April, 2019, which was 2.6 per cent higher as compared to the index of April, 2018. Its cumulative growth during April to March, 2018-19 was 4.3 per cent.

Coal production increased by 2.8 per cent in April. Its cumulative index increased by 7.4 per cent during April to March, 2018-19 over corresponding period of the previous year.

Petroleum Refinery production increased by 4.3 per cent in April. Its cumulative index increased by 3.1 per cent during April to March, 2018-19 over the corresponding period of previous year.

Steel production increased by 1.5 per cent in April. Its cumulative index increased by 4.7 per cent during April to March, 2018-19 over the corresponding period of previous year.

Cement production increased by 0.8 per cent in April. Its cumulative index increased by 13.3 per cent during April to March, 2018-19 over the corresponding period of previous year.

Electricity generation increased by 5.8 per cent in April. Its cumulative index increased by 5.2 per cent during April to March, 2018-19 over the corresponding period of previous year.

Crude Oil production declined by 6.9 per cent in April. Its cumulative index declined by 4.1 per cent during April to March, 2018-19 over the corresponding period of previous year.

The Natural Gas production declined by 0.8 per cent in April. Its cumulative index increased by 0.8 percent during April to March, 2018-19 over the corresponding period of previous year. Fertilizers production declined by 4.4 per cent in April. Its cumulative index increased by 0.3 per cent during April to March, 2018-19 over the corresponding period of previous year.

Shekhar Ghosh is consulting editor, Indoasiancommodities.com. He has edited and written for publications like Business India, Business Standard, Business Today, Outlook and many other international publications. He can be reached at shekhar.ghosh@indoasiancommodities.in.

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