Eight key infrastructure industries posted a meagre growth of 1.4 per cent in February, the lowest during in FY15, as production of steel, natural gas, fertiliser and refinery products contracted.
According to the data released by the commerce ministry, the eight core industries comprising coal, crude oil, refinery products, natural gas, fertiliser, cement, electricity and steel, grew 3.8 per cent during the April-February period as compared to 4.2 per cent during the same period a year ago. The core sector had clocked in a growth of 6.1 per cent during February 2014.
The core industries comprise over 38 per cent of the index of industrial production (IIP), which stood at 2.6 per cent in January as per the latest available figure. With slowing growth and wholesale price index falling for the fourth month in a row in February, corporates are expecting relief on the rate from the RBI in the upcoming monetary policy.
During the month, coal production posted a robust growth. It increased by 11.6 per cent in February compared to 0.9 per cent in the corresponding period last year and 1.7 per cent in January. During the April-February period it increased by 8.5 per cent year-on-year. Electricity generation also witnessed a surged by 5.2 per cent compared to 2.7 per cent in January.