Unshackling Slump: Core Sectors Crack 6.7% Growth Rate

Largely spurred by growth in output of the cement, petroleum refinery, and electricity sectors, the eight core infrastructure industries of the country posted a commendable 6.7 percent increase in January 2018, compared to 3.4 percent in the same month last year. Growth in these eight sectors, which also include coal, natural gas, fertilizers, steel, and crude oil, in the April-January 2017-18 period, was 4.3 percent, which was lower than the 5.1 percent growth in the same period in the preceding fiscal, as per figure released by the Commerce & Industry Ministry. It added that petroleum refinery production increased 11 percent in January compared to no growth in the same month last year. Cement output for the month shot up by 20.7 percent. Similarly, electricity generation increased by 8.2 percent against 5.2 percent in January 2017. Coal and steel sector output also improved by 3 percent and 3.7 percent, respectively, this January compared to January 2017. The sectors where production dropped include crude oil recording 3.2 percent lower, fertilizers, where production fell by 1.6 percent and natural gas recording a drop of 1 percent in the month under review.