New Delhi: Eight core industries such as coal, electricity, crude oil, cement and steel grew at 2.4 per cent in December, compared to four percent in the same month last year, official data showed on Monday on the eve of the Reserve Bank of India (RBI)'s scheduled monetary policy review.
The index of eight core industries with a combined weightage of 37.90 per cent in the Index of Industrial Production (IIP) with base 2004-05 stood at 172.7 in the month under review, the commerce and industry ministry said.
Electricity generation, which has 10.32 per cent weightage in the IIP, grew 3.7 per cent in December 2014 as compared to 7.6 per cent in December last year.
Cement production grew 3.8 per cent and coal production was up 7.5 per cent.
However, steel production fell 2.4 per cent from a growth of 10.4 per cent in the corresponding month last year.
Crude oil and natural gas output also recorded negative growth, being respectively lower by 1.4 per cent and 3.5 per cent in the month under review.
Fertilisers also declined by 1.6 per cent
Petroleum and refinery products were up 6.1 per cent.
The core sector parameters are taken into account by the RBI while framing its monetary policy.
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