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India's core sector output expands at six-month high of 8.4% in April

The output of eight infrastructure sectors of coal, crude oil, natural gas, refinery products, fertiliser, steel, cement and electricity had expanded by 4.9 per cent in March 2022.

Topics
Core Sector output | Infrastructure sector | Crude Oil

Press Trust of India  |  New Delhi 



India's core sector growth down to 19-month low of 1.8% in January
The core sector had witnessed an exceptionally high growth rate of 62.6 per cent in April 2021 mainly due to the low base effect.

Production growth of eight infrastructure sectors rose to a six-month high of 8.4 per cent in April on the back of better performance by coal, products and electricity segments, according to official data released on Tuesday.

The output of eight infrastructure sectors of coal, crude oil, natural gas, products, fertiliser, steel, cement and electricity had expanded by 4.9 per cent in March 2022 while the same was exceptionally high at 62.6 per cent in March 2021 due to the low base effect.

The output growth in April is the highest since October 2021 when the core sector grew by 8.7 per cent.

According to the data, output rose sharply by 28.8 per cent while electricity production increased by 10.7 per cent.

The output of petroleum products increased by 9.2 per cent in April 2022. The production of increased by 6.4 per cent, fertilisers' by 8.7 per cent, and cement by 8 per cent.

On the other hand, the output of contracted by 0.9 per cent against a 2.1 per cent decline in April, the data showed. production dipped by 0.7 per cent during the month.

Commenting on the numbers, ICRA Ltd Chief Economist Aditi Nayar said, "While the core sector growth rose to a six-month high 8.4 per cent in April, benefitting from the constrained base of the second wave of Covid-19 in India, it trailed our forecast of 11-12 per cent by a wide margin, dampened by a contraction in and crude oil".

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)


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First Published: Tue, May 31 2022. 17:58 IST

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