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India's February core sector growth at 11-month high of 5.5%

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NEW DELHI: India’s eight infrastructure sectors grew at an 11-month high of 5.5% in February. In March, the government imposed a nationwide lockdown as a result of covid-19 outbreak.

During the reporting month, coal and electricity output grew in double digits, while production of crude oil, natural gas and steel contracted.

The eight core industries comprise 40.27% of the weight of items included in the Index of Industrial Production (IIP) Most forecasters have sharply cut their growth projections for India for the financial year 2020-21 beginning 1 April.

On Monday, S&P Global Ratings cut its estimate for India’s gross domestic product (GDP) growth to 3.5% from 5.2%, as it expects the damages to the economy from the covid-19 pandemic for

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COVID-19
United States
United States
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Deaths: 750 423
Recovered: 0
India
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Cases: 34 321 025
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Brazil
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Deaths: 608 235
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United Kingdom
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Cases: 9 215 683
Deaths: 141 607
Recovered: 0
Russia
Russia
Cases: 8 494 589
Deaths: 237 619
Recovered: 0
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