Eight core sectors output up 44 pc in Sep
New Delhi Oct 29 PTI The output of eight core sectors rose 44 per cent in September on account of healthy performance by segments like natural gas refinery products and cement official data showed on Friday The eight infrastructure sectors of coal crude oil natural gas refinery products fertilisers steel cement and electricity had grown by 06 per cent in September 2020 as per the data released by the commerce and industry ministry Core sectors growth stood at 115 per cent in August this year The eight core industries comprise 4027 per cent of the weight of items included in the Index of Industrial Production IIP Production of natural gas refinery products and cement increased by 275 per cent 6 per cent and 108 per cent in September 2021 respectively However crude oil production declined by 17 per cent in September year-on-year The growth rate of these infrastructure industries during April-September 2021-22 stood at 166 per cent as against a contraction of 145 per cent in the year-ago period Commenting on the numbers Aditi Nayar chief economist at Icra said with the base effect wearing off and copious rainfall dampening mining and construction activities as well as demand for electricity the core sector growth slid to 44 per cent in September Lower core sector growth and the impact of semiconductor shortages on auto output are expected to dampen the September 2021 IIP growth to 3-5 per cent despite the pre-festive season inventory buildup suggested by the GST e-way bill data she added While the sequential momentum would improve we expect the YoY core sector growth to remain subdued at 4-5 per cent in October 2021 she further said According to the data the growth rate of coal and steel output in September declined to 81 per cent and 3 per cent from 21 per cent and 62 per cent in the same month last year respectively Similarly growth rate in the electricity generation moderated to 03 per cent from 48 per cent in September 2020 Fertiliser output rose marginally by 002 per cent in September from -03 per cent in the year-ago month PTI RR ABM ABM
New Delhi Oct 29 PTI The output of eight core sectors rose 44 per cent in September on account of healthy performance by segments like natural gas refinery products and cement official data showed on Friday The eight infrastructure sectors of coal crude oil natural gas refinery products fertilisers steel cement and electricity had grown by 06 per cent in September 2020 as per the data released by the commerce and industry ministry Core sectors growth stood at 115 per cent in August this year The eight core industries comprise 4027 per cent of the weight of items included in the Index of Industrial Production IIP Production of natural gas refinery products and cement increased by 275 per cent 6 per cent and 108 per cent in September 2021 respectively However crude oil production declined by 17 per cent in September year-on-year The growth rate of these infrastructure industries during April-September 2021-22 stood at 166 per cent as against a contraction of 145 per cent in the year-ago period Commenting on the numbers Aditi Nayar chief economist at Icra said with the base effect wearing off and copious rainfall dampening mining and construction activities as well as demand for electricity the core sector growth slid to 44 per cent in September Lower core sector growth and the impact of semiconductor shortages on auto output are expected to dampen the September 2021 IIP growth to 3-5 per cent despite the pre-festive season inventory buildup suggested by the GST e-way bill data she added While the sequential momentum would improve we expect the YoY core sector growth to remain subdued at 4-5 per cent in October 2021 she further said According to the data the growth rate of coal and steel output in September declined to 81 per cent and 3 per cent from 21 per cent and 62 per cent in the same month last year respectively Similarly growth rate in the electricity generation moderated to 03 per cent from 48 per cent in September 2020 Fertiliser output rose marginally by 002 per cent in September from -03 per cent in the year-ago month PTI RR ABM ABM
