Core sector growth of India declined to 13-month low in January 2015

Core sector growth of India declined to 13-month low of 1.8 percent in January 2015 as compare to 3.7 percent in 2014. The data was released by the Union Commerce and Industry Ministry on 2 March 2015.

Highlights
• The growth of eight core sector industries (coal, crude oil, natural gas, refinery products, fertilizer, steel, cement and electricity) in India slowed to 1.8 percent in January 2015.
• The crude oil production declined 2.3 percent, and natural gas output dropped 6.6 percent in January 2015.
• The coal production increased 1.7 percent, petroleum refinery production rose 4.7 percent, and fertilizer output increased 7.1 percent in January 2015.
• Steel and cement output and electricity generation is slower rate as compare to January 2014.
• Negative growth in crude oil and natural gas and low growth in steel, cement and electricity have led to the dip in the overall growth rate of core industries.
• However, coal and refinery products output grew by 1.7 percent and 4.7 percent respectively in 2015 against 1.2 percent and contraction of 4.2 percent in 2014.
• The growth of core sector was 2.4 percent in December 2014.
• During the April 2014 to January 2015 period, the core sector industries grew 4.1 percent, as compared to 4 percent growth in April 2013 to January 2015.