Output growth of 3.6% registered by eight core sector industries in March 2023

New Delhi, Apr 29 (KNN) The output of eight core sectors witnessed a growth of 3.6 per cent in March 2023, the slowest in five months, according to the government data released on Friday.

In March of this year, the output of crude oil, power, and cement all fell by 2.8 per cent, 1.8 per cent, and 0.8 per cent respectively. 

However, output of coal, fertilisers, steel, natural gas, and refinery products registered a growth. 

As per the Ministry of Commerce and Industry data, the production of coal rose by 12.2 per cent followed by fertilisers by 9.7 per cent, steel by 8.8 per cent and refinery products by 1.5 per cent.

The output of core sectors had increased by 7.2 per cent in February 2023 and 4.8 per cent in the year-ago month. The previous low was 0.7 per cent in October 2022. 

All the core sectors including coal, crude oil, natural gas, refinery products, fertilisers, steel, cement, and electricity, had slower growth in FY23, coming in at 7.6 per cent  compared to the 10.4 per cent reported in 2021–2022.

The core sector or key infrastructure industries have a 40.27 per cent weight in the overall index of industrial production (IIP).  (KNN Bureau)