Output of core sectors grows at 6% in February

The production of eight infrastructure sectors expanded at 6 per cent on an annual basis in February 2023 as all sectors barring crude oil saw positive growth, according to official data released on Friday.

The eight sectors had grown at a four-month high of 7.8 per cent in January 2023 and 5.9 per cent in February 2022.

The production of fertilisers, coal, electricity, cement, steel, refinery products and natural gas increased in February 2023 over the corresponding month of last year, data showed.

Crude oil saw a contraction of 4.9 per cent.

The cumulative growth rate of Index of Eight Core Industries (ICI) during April-February 2022-23 was reported at 7.8 per cent (provisional) as compared to the corresponding period of last year.

Core sector or key infrastructure industries, which have a 40.27 per cent weight in the overall index of industrial production (IIP), would have a bearing on industrial production data for the month.