8 core industries grow by 5.8% in August

Led by healthy growth in coal, cement and electricity sectors, the eight core industries grew by 5.8 per cent in August this year against 4.7 per cent in the same month last year.

The sectors of coal, cement and electricity grew by 13.4 per cent, 10.3 per cent and 12.6 per cent, respectively, in the month under review, according to the data released by the Commerce and Industry Ministry.

Steel production expanded by 9.1 per cent in August this year as against 8.1 per cent in August 2013.

However, production of crude oil and natural gas declined by 4.9 per cent and 8.3 per cent respectively.

Refinery products and fertiliser sectors too recorded negative growth of 4.3 per cent and 4.3 per cent respectively.

During April-August, the eight sectors grew by 4.4 per cent, against 4.2 per cent in the year-ago period.

The August figures would have positive impact on overall industrial production as the eight core sectors has a combined weight of about 38 per cent in the Index of Industrial

Production.