Growth in output of the eight core industries increased by 4.2 percent in the first month of this fiscal up from 2.5 percent in March, due to higher electricity, fertiliser and cement production.
The growth of the eight core sector in April 2013 was 3.7 per cent. Electricity production increased 11.2 per cent in April this year from 3.5 per cent in the same month last year. Similarly, fertilisers, cement and coal registered higher growth during the month under review.
Fertilisers, cement and coal recorded a growth 11.1 per cent, 6.7 per cent and 3.3 per cent respectively in April 2014, according to the data released by commerce and industry ministry today.
According to rating agency ICRA, "notwithstanding the pick up in core sector growth, IIP growth for April 2014 is expected to record less than one per cent growth".
The coal, crude oil, natural gas, refinery products, fertilisers, steel, cement and electricity sectors had expanded 2.7 per cent in 2013-14. The eight industries have a combined weight of about 38 per cent in the Index of Industrial Production.
Steel production increased 3.1 per cent compared with 10.1 per cent in the same month last year. The crude oil, natural gas and petroleum refinery product sectors contracted 0.1 per cent, 7.7 per cent and 2.2 per cent, respectively, in April.