Eight core industries grow by 5.8% in August

The growth was helped by a jump in steel and coal production

Led by healthy growth in coal, cement and electricity sectors, the eight core industries grew by 5.8% in August this year against 4.7% in the same month last year.

The sectors of coal, cement and electricity grew by 13.4%, 10.3% and 12.6%, respectively, in the month under review, according to the data released by the Commerce and Industry Ministry.

Steel production expanded by 9.1% in August this year as against 8.1% in August 2013.

However, production of crude oil and natural gas declined by 4.9% and 8.3% respectively. Refinery products and fertiliser sectors too recorded negative growth of 4.3% and 4.3% respectively.

During April-August, the eight sectors grew by 4.4%, against 4.2% in the year-ago period.

The August figures would have positive impact on overall industrial production as the eight core sectors has a combined weight of about 38% in the Index of Industrial Production (IIP).