Business

Slowdown in Core Sector Growth

Slowdown in Core Sector Growth

Slowdown in Core Sector Growth

The slowdown in core sector growth was due to slowdown in the growth of Coal, Steel, Cement and Electricity industries.

In general, the negative growth in October, 2015 of Crude Oil and Natural Gas was inter-alia, due to ageing fields, water / sand ingress, environmental problems, etc. and that of Refinery Products was due to shut down of certain units. Further, the decline in production of Steel was mainly on account of on-going work related to modernization / upgradation / commissioning of new (brownfield) capacities, downfall in domestic steel consumption and rise in imported material.

The Government is taking steps to raise growth in these industries which inter-alia, include measures relating to policy, procedures, improving infrastructure and ensuring availability of required inputs.

This information was given by the Minister of State (Independent Charge) in the Ministry of Commerce & Industry Smt. Nirmala Sitharaman in a written reply in Rajya Sabha today.

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