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Core sector grows 3.7 pc in Jan 2022 led by coal, natural gas

Signalling economic recovery, the output of eight infrastructure sectors registered a growth of 3.7 per cent in January 2022 against 1.3 per cent in the corresponding period of the last year, pushed by strong production of coal, natural gas and cement industries. The core sector industries- coal, crude oil, natural gas, refinery products, fertilisers, steel, cement and electricity- expanded by 4.1 per cent in December 2021.

On a cumulative basis, these core sectors’ growth stood at 11.6 per cent during April-January Financial year (FY) 2021-22, as against a negative growth of 8.6 per cent during the same period last fiscal, according to official data released by the Commerce and Industry Ministry on Monday.

The figures indicate that the third wave of COVID-19 had an expectedly muted impact on India’s core sectors in January 2022, with the pace of growth slipping mildly to 3.7 per cent in that month from 4.1 per cent in December 2021, according to Aditi Nayar, Chief Economist, ICRA.

Figures show coal production increased by 8.2 per cent in January 2022 over January 2021, natural gas production increased by 11.7 per cent in January 2022 over January 2021, petroleum refinery production increased by 3.7 per cent in January 2022 over January 2021 and steel production increased by 2.8 per cent in January 2022 over January 2021.

Fertilizers production declined by 2.0 per cent in January 2022 over January 2021. Cement production increased by 13.6 per cent in January 2022 over January 2021 and electricity generation increased by 0.5 per cent in January 2022 over January 2021. (ANI)