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Feb core sector growth at 1.4% vs 1.8% in Jan, coal excels

The February data for core sector growth fell to 1.4 percent versus 1.8 percent month on month. While analyzing the date, Aditi Nayar of ICRA said electricity and coal have done well in the prior months, but other sectors fared badly.

The News International Team

The February data for core sector growth fell to 1.4 percent versus 1.8 percent month on month and 1.6 percent year on yea with steel and natural gas playing the spoilsport. 

The eight core industries comprise nearly 38 percent of the weight of items included in the Index of Industrial Production (IIP).The combined Index of eight core industries stood at 161.5 in February 2015, which was 1.4 percent higher compared to the index of February 2014 (159.2). Its cumulative growth during April to February 2014-15 was 3.8 percent.

Of the eight core sectors, Steel production (-4.4 percent), Natural Gas production (-8.1 percent) and Crude (- 1.9 percent) declined shaprly while Refinery Products (-1 percent), Fertilizer (-0.4 percent) showed moderate decline. On the other hand, Coal (+11.6 percent) , Cement (+2.7 percent) and Electricity (+5.2 percent) grew handsomely in February 2015 over previous year.

While analysing the date, Aditi Nayar of ICRA said electricity and coal have done well in the prior months, but other sectors fared badly.

Core sector data for March 2015 will be released on April 30 2015.

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