New Delhi:
Growth in eight core industries slowed down to 1.8 per cent in January, the lowest in at least 13 months, due to negative expansion in crude oil and natural gas.
The eight core sector industries—coal, crude oil, natural gas, refinery products, fertiliser, steel, cement and electricity—had expanded by 3.7 per cent in January, 2014.
The growth was 2.4 per cent in December 2014.
The core sector contributes 38 per cent to the overall industrial production, a parameter that RBI takes into account while framing its monetary policy.
Production of crude oil and natural gas contracted by 2.3 per cent and 6.6 per cent respectively, according to the data released by the Commerce and Industry Ministry.
Output in steel, cement and electricity registered growth during the month under review, but the expansion is lower as compared to that in January 2014.
However, coal and refinery products output grew by 1.7 per cent and 4.7 per cent respectively against 1.2 per cent and contraction of 4.2 per cent in the year ago period.
During April-January period, the eight sectors grew by 4.1 per cent as against 4 per cent in the same period of the previous fiscal.
