India’s core sector growth declined to 5.2% in March

May 7, 2024 #Bank_PO, #BPSC, #Current_Affairs, #DSSSB, #Railway, #SSC, #UPSC

India’s core sector growth declined to 5.2% in March.
The growth of the core sector has slowed to 5.2% in March from 7.1% in February.
In March, coal (8.7 per cent), crude oil (2 per cent), natural gas (6.3 per cent) and steel (5.5 per cent) declined.
The output of refinery products (-0.3 per cent) and fertilisers (-1.3 per cent) contracted during March.
The Output of cement and electricity increased by 10.6% and 8%, respectively, in March.
The core sector witnessed a growth of 4.2 per cent in March 2023.
Electricity generation showed a positive growth expansion in March and maintained a robust pace in April.
In FY24, growth in the core sector stood at 7.5 per cent as compared to 7.8 per cent in FY23.
During this financial year, all eight constituent sectors registered positive growth.
The eight core industries account for 40.27 per cent of the weighting of items included in the Index of Industrial Production (IIP).