Core sector growth slows down to 4.3% in March

New Delhi, April 29

Advertisement

The production growth of eight infrastructure sectors slowed down to 4.3% in March due to a decline in the output of coal and crude oil, though for the full 2021-22 fiscal, the core sector recorded a 10.4% expansion, according to official data released on Friday.

The eight infrastructure sectors — coal, crude oil, natural gas, refinery products, fertiliser, steel, cement and electricity — had expanded by 6% in February.

During April-March 2021-22, the eight sectors grew by 10.4% compared to a contraction of 6.4% in 2020-21.

The output of coal and crude oil contracted by 0.1% and 3.4% in March.

The growth in the production of natural gas, steel, cement and electricity slowed down to 7.6%, 3.7%, 8.8% and 4.9% during the month under review as against 12.3%, 31.5%, 40.6% and 22.5% in March 2021 respectively, the data showed. Refinery products and fertilisers output grew by 6.2% and 15.3%, respectively in March this year.

Commenting on the numbers, Aditi Nayar, Chief Economist, ICRA Ltd, said the pace of core sector growth slowed to a “sedate” 4.3% in March 2022, with a slowdown in five of the eight constituents. — PTI

Numbers at a glance

• The eight infrastructure sectors — coal, crude oil, natural gas, refinery products, fertiliser, steel, cement and electricity — had expanded by 6% in February
• During April-March 2021-22, the eight sectors grew by 10.4% compared to a contraction of 6.4% in 2020-21
• The output of coal shrunk by 0.1% and that of crude oil by 3.4%