Core Sector output for March recorded highest in 32 months: Current Affairs Special Series

Team Adda247 and BankersAdda are here with a Current Affairs Special Series for SBI and IBPS interview 2021.  In this series, candidates will be introduced to current affairs topics daily, which will not only improve their general awareness but also will ensure that the candidates do not lack if any current affairs topic is asked in the interview. Today’s Current Affairs topic is Core Sector output for March recorded highest in 32 months.

Core Sector output for March recorded highest in 32 months

Government released the data which shows highest Core sector output 6.8% for the month of March in last 32 months. It is helped by better production of Steel, Cement and electricity.

The estimated data was more than actual data according to some analysts. The core sector index which is a measurement of eight infrastructure sectors had contracted 8.6% in March 2020 which effects low base year for March 2021. The 6.8% growth of core sectors in March must be seen with caution and next two months also be the same for this year.

According to ICRA a rating agency, the growth is weaker than forecast of 10% expansion. The low base of last year because of lockdown it was estimated that the growth would be amplifies for the next three months of this year. The slackening in the growth is due to slowed momentum in April 2021 in electricity demand, generation of GST-E way bills and vehicle registration in the times of second wave of Covid-19 pandemic.

The core sector – Coal, natural gas, cement, electricity generation, steel, fertilisers, crude and refined products all this together have more than 40% weightage in the Index of Industrial Production (IIP­) which is suggesting a bounce back in industrial production as well.