CORE INDUSTRIES RISE BY 5% IN MARCH ON HIGHER COAL, STEEL PRODUCTION

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CORE INDUSTRIES, STEEL PRODUCTIONOn the back of higher coal and steel production, the eight infrastructural sectors rose by 5 percent in March turning to be fastest in 3 months. The growth rate of eight core industries  sectors viz. crude oil, coal, natural gas, fertilizers, steel, refinery products, cement and electricity. It was, however, lower than 9.3 percent recorded in March last year. As per the data released by government on 1 May 2017, coal production increased by 10% in March Versus 2.5% a year ago.

The infrastructure industries rose by 4.5% last fiscal ended March 2017, which is higher than 4% recorded in the financial year 2016, on cumulative basis.

Steel output recorded a robust double digit growth of 11% on the back of improved exports in the month, while, cement output, declined by 6.8% in March, after clocking considerable improvement in February. This contraction in cement output indicates that the construction sector is yet to fully recuperate from the distraction that had effected after the demonetization of high-value currency notes in November 2016. 


 

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