Team Blitz India
NEW DELHI: Growth in India’s core sector was 5.2 per cent year-on-year (Y-o-Y) in March on the back of a sequential deterioration recorded by five of its constituents.
Output decelerated in sectors like coal (8.7 per cent), crude oil (2 per cent), natural gas (6.3 per cent) and steel (5.5 per cent) during March, according to the data released by the Ministry of Commerce and Industry on May 1. The output of refinery products (-0.3 per cent) and fertilisers (-1.3 per cent) contracted during the month. On the other hand, output of cement (10.6 per cent) and electricity (8 per cent) accelerated in March.
Overall in FY24, growth in the core sector stood at 7.5 per cent as against 7.8 per cent in FY23. All the eight constituent sectors registered positive growth during the financial year with output of steel (12.3 per cent) leading the chart, followed by coal (11.7 per cent), cement (9.1 per cent), and electricity (7 per cent) in FY24.
