Representational image of a coal field. (Image credit: Sabrang India)

Core sector growth witnessed decline in February 2021

In the steepest contraction in the last six months, the output of eight core sectors in India declined by 4.6 per cent in February 2021.

According to the official data released on March 31 the production of coal, crude oil, natural gas, refinery products, fertilisers, steel, cement and electricity stood at 6.4 per cent in February 2020.

It was in August last year that the core sector had recorded a negative growth of 6.9 per cent.

However, in January this year it registered a positive growth of 0.9 per cent.

The data said that the production of coal declined by 4.4 per cent, refinery products by 10.9 per cent, crude oil by 3.2 per cent, natural gas by one per cent, fertilizers by 3.7 per cent, steel 1.8, cement by 5.5 and electricity by 0.2 per cent in February this year.

The data of April 2020 to February 2021 said that the eight sectors’ growth declined by 8.3 per cent as compared to +1.3 per cent in the corresponding period in the previous fiscal year.

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