Growth in these sectors accelerated
Significantly, after the re-assuming of the Modi government, the economy of India has registered a decline. GDP growth rate has also come down to 4.5 in the last 11 years. In such a situation, the growth rate in the core sector is a big relief for the Modi government. Eight core sectors of the core sector have witnessed a boom, including coal, crude oil, natural gas, refinery products, fertilizers, steel, cement and electricity.
Growth in core sector
Let us know that the coal sector growth has increased from -2.5 per cent to 6.1 per cent in December 2019, whereas the core sector sectors like coal, steel, cement and fertilizer have registered growth. Besides, cement output growth has increased from 4.3 per cent to 5.55 per cent and electricity output growth has also gone up from -4.9 per cent to -1.6 per cent. On the other hand, when it comes to natural gas, crude oil, refinery, the government did not get much success in this area and it has declined.
Fertilizer sector was the best performer
While crude oil output growth fell from -6 to -7.4 per cent, natural gas output growth also declined to -9.2 per cent from -64. Refinery output growth has also seen a decline of .1 percent. Fertilizer sector was the best performer in December with a growth of 10.2 per cent.