Odisha News Insight

Core Industries post Negative Growth of 0.1 Percent in March

Core Industries post Negative Growth of 0.1 Percent in MarchIndia’s core industries’ output growth slowed to a 15-month low of 0.1 percent in March, on the back of a contraction in the production of steel, cement and refinery products, government data showed on Thursday.

The eight core industries had expanded by 4 percent in March 2014. The growth was 1.4 percent in February. The infrastructure sector, comprising coal, crude oil, oil refining, natural gas, steel, cement, electricity and fertilisers, accounts for 38 percent of the country’s overall industrial production.

Production of natural gas in March fell by 1.5 percent, while crude oil production rose instead by 1.7 percent. Refinery products, cement and steel output declined by 1.3 percent, 4.2 percent and 4.4 percent respectively.

However, coal and fertilisers production grew by 6 percent and 5.2 percent respectively. Electricity generation grew by 1.7 percent in March 2015 compared to 5.4 percent in the same month last year.

For the full 2014-15 fiscal, the eight sectors also slowed down to 3.5 percent, from 4.2 percent in previous financial year ended in March 2014. (IANS)

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