In a positive development for the economy, the output of eight core industries’ surged to a 32-month high of 6.8 per cent in the bygone March aided by a jump in Government's expenditure and a statistical base effect, The Hindu Businessline.
Compared to this, the output from the eight core sector had contracted 8.6 per cent in March last year. It should be noted that even in February 2021, their output had contracted 3.8 per cent.
The eight core industries include coal, crude oil, natural gas, refinery products, fertilisers, steel, cement, steel and electricity.
Of these, coal, crude oil, refinery products and fertilisers saw a contraction during March. However, Natural gas output was up 12.3 per cent. Furthermore, electricity, cement and steel saw a growth rate of over 20 per cent.
While steel output grew by 23 per cent, cement output grew in March by a robust 32.5 per cent. Compared to this, steel and cement output had contracted by 21.9 and 25.1 per cent in March last year.
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