Eight core sectors growth up 5.5% in February, highest in 11 months; coal, refinery products and electricity output up
Eight core sector industries recorded a growth of 5.5 percent in February, highest in 11-months, mainly due to healthy expansion in output of coal, refinery products and electricity, according to a government data released on Tuesday
New Delhi: Eight core sector industries recorded a growth of 5.5 percent in February, highest in 11-months, mainly due to healthy expansion in output of coal, refinery products and electricity, according to a government data released on Tuesday.
The eight-core sector industries -- coal, crude oil, natural gas, refinery products, fertiliser, steel, cement and electricity -- had expanded by 2.2 percent in February last year.
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Last time, it was in March 2019, when these eight sectors recorded a growth of 5.8 percent. In January this year, these sectors grew by 1.4 percent.
These industries comprise 40.27 percent of the weight of items included in the Index of Industrial Production (IIP).
The output of coal, refinery products and electricity grew by 10.3 percent, 7.4 percent, and 11 percent, respectively, during the month under review.
However, crude oil, natural gas, and steel recorded a negative growth rate in February. Fertiliser and cement output grew by 2.9 percent and 8.6 percent, respectively.
For the April-February period, the eight sectors growth rate declined to 1 percent as against 4.2 percent in the same period last year.
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While the BSE Sensex was up 7.09 points or 0.01 percent at 49,751.41, the Nifty was up 32.10 points or 0.22 percent at 14,707.80
The top five gainers were Tata Motors, M&M, Wipro, Adani Ports and NTPC, while the top losers were ONGC, HDFC, Dr Reddy’s Labs, Coal India and Power Grid Corp
The right energy policies could ensure the historic opportunity to make 2019 the definitive peak in global emissions, is not wasted, experts said.