The eight core sectors of India grew by 4.3 percent in March, down from 6 percent in February, the Ministry of Trade said on April 29.
According to the latest data, only three of the eight core sectors show faster output growth rates in March compared to six in February. These three sectors are fertilizer, cement, and electricity.
While fertilizer output jumped by 15.3 percent in large years in March, each cement and electricity rose 8.8 percent and 4.9 percent.
In February, fertilizer output was contracted by 1.4 percent. Cement and electricity production respectively rose 5 percent and 4.5 percent.
Among those left behind are coal and raw oil. Coal production in March fell 0.1 percent marginal compared to the period of last year. However, crude oil output dropped 3.4 percent greater in year to year.
For FY22 as a whole, eight core sectors grew 10.4 percent. At FY21, their output shrank 6.4 percent.
The decline in the growth of the core sector in March is likely to result in a decrease in industrial growth, measured by the Industrial Production Index (IIIP).
The eight shared core industries -the same contributed 40.3 percent of the total weight of the IIP. Thus, the performance of the core sector is the main indicator for the growth of IIP.
The data released on April 12 showed that the growth of IIP rose to 1.7 percent in February from 1.5 percent in January.
IIP data for March is scheduled to be released on May 12.
