Core sector industries grow 5% in March on higher coal, steel output

The eight core industries grew five percent in March, the fastest rate in three months, on the back of higher coal and steel production.The core industries, which account for 38 percent of total industrial production, had expanded by one percent in February and 3.4 percent in March.[caption id="attachment_3406146" align="alignleft" width="380"] Reuters[/caption]However, the growth rate of the eight infrastructure sectors -- coal, crude oil, natural gas, refinery products, fertilisers, steel, cement and electricity -- was lower than the 9.3 percent recorded in March last year.According to government data released on Monday, coal production increased by 10 per cent in March 2017 against 2.5 percent a year ago.Steel (alloy plus non-alloy) production was up 11 percent, against 7.8 percent in March 2016.Electricity generation was up by 5.9 percent. Crude oil and natural gas production was 0.9 percent and 8.3 percent, on annual basis.On the other hand, cement production declined by 6.8 percent, and so did fertiliser output (-0.8 percent). There was also a decline in production of refinery products (- 0.3 percent).On a cumulative basis, the infrastructure industries grew by 4.5 percent in the year ended March 2017, against four percent in the previous fiscal.