Signalling economic recovery, the output of eight infrastructure sectors registered a growth of 3.7% in January 2022 against 1.3% 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% in December 2021.
On a cumulative basis, these core sectors’ growth stood at 11.6% during April-January Financial year (FY) 2021-22, as against a negative growth of 8.6% 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% in that month from 4.1% in December 2021, according to Aditi Nayar, Chief Economist, ICRA.
Figures show coal production increased by 8.2% in January 2022 over January 2021, natural gas production increased by 11.7% in January 2022 over January 2021, petroleum refinery production increased by 3.7% in January 2022 over January 2021 and steel production increased by 2.8% in January 2022 over January 2021.
Fertilizers production declined by 2% in January 2022 over January 2021. Cement production increased by 13.6% in January 2022 over January 2021 and electricity generation increased by 0.5% in January 2022 over January 2021.
