Core sector growth jumps to 5-month high of 6.7% in November

The growth rate of eight core sector industries rose to five-month high of 6.7% in November on the back of better output in coal, refinery products, electricity and cement.

The eight core sector industries -- coal, crude oil, natural gas, refinery products, fertiliser, steel, cement and electricity -- grew by 3.2% in November last year. The growth rate was 6.3% in October this year. The earlier high was in June when the sectors grew by 7.3%. The core sector contributes 38% in the overall industrial production, a parameter that RBI takes into account while framing its monetary policy.

Coal, refinery products, electricity and cement production registered a growth of 14.5%, 8.1%, 10.2% and 11.3%, respectively in November, as per the data released by the Commerce and Industry Ministry. Steel output during the month under review declined to 1.3% from 10.1% in the same month last year. However, crude oil, natural gas and fertiliser were in the negative zone. During April-November, the eight sectors grew by 4.6% as against 4.1% in the same period last year.