Core sector growth slips to over 1-year low of 1% in February
Commenting on the data, rating agency ICRA said: 'We expect the IIP to post a subdued volume growth in February 2017.'
New Delhi: The growth of eight core sectors slipped to over one-year low of 1 percent in February mainly due to decline in output of crude oil, natural gas, refinery products, fertilisers and cement.
The growth rate of eight infrastructure sectors of coal, crude oil, natural gas, refinery products, fertilisers, steel, cement and electricity was 9.4 percent in February 2016. The previous low of 0.9 percent was recorded in December 2015. In January 2017, these sectors grew by 3.4 percent.
The core sectors, which contribute 38 percent to the total industrial production, expanded 4.4 percent in April-February this fiscal compared to 3.5 percent growth in the same period previous financial year, according to the data released by the commerce and industry ministry today.
Commenting on the data, rating agency ICRA said: "We expect the IIP to post a subdued volume growth in February 2017."
However, coal and steel recorded positive growth during the month.
The output of crude oil, natural gas, refinery products, fertilisers and cement contracted by 3.4 percent, 1.7 percent, 2.3 percent, 5.3 percent and 15.8 percent, respectively during the month under review.
Find latest and upcoming tech gadgets online on Tech2 Gadgets. Get technology news, gadgets reviews & ratings. Popular gadgets including laptop, tablet and mobile specifications, features, prices, comparison.
Uber aims to become a 'zero emission platform' by 2040, pledges to spend $800 million on drivers transition to EV
Uber said it would expand its Uber Green option to make it easier for riders to choose hybrid or electric cars.
Fire breaks out at Beirut port a month after deadly blast killed 190; army helicopters to join fire-fighting ops
The 4 August blast caused widespread outrage after reports said that authorities had been aware of the huge stockpile of ammonium nitrate fertiliser at the port