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'description' => '<p style="margin-left:0in; margin-right:0in; text-align:justify"><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:10.0pt"><span style="font-family:"Quicksand","serif"">According to data released by Ministry of Commerce, the combined index of the eight sectors recorded 4.7</span></span><span style="font-size:10.0pt"><span style="font-family:"Quicksand","serif"">%</span></span><span style="font-size:10.0pt"><span style="font-family:"Quicksand","serif""> growth in March 2019. It is highest growth recorded by eight core sectors in past five-months. This growth was </span></span><span style="font-size:10.0pt"><span style="font-family:"Quicksand","serif"">driven by broad-based recovery in sectors such as <em>cement, refinery products, steel, and coal</em>.</span></span></span></span></p>
<p style="margin-left:0in; margin-right:0in; text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong><span style="font-size:10.0pt"><span style="font-family:"Quicksand","serif"">Sector wise Performance (March 2019)</span></span></strong></span></span></p>
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<li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong><span style="font-size:10.0pt"><span style="font-family:"Quicksand","serif"">Cement sector:</span></span></strong><span style="font-size:10.0pt"><span style="font-family:"Quicksand","serif""> It saw strongest rebound in March 2019, growing 15.7</span></span><span style="font-size:10.0pt"><span style="font-family:"Quicksand","serif"">%</span></span><span style="font-size:10.0pt"><span style="font-family:"Quicksand","serif""> compared with 8</span></span><span style="font-size:10.0pt"><span style="font-family:"Quicksand","serif"">%</span></span><span style="font-size:10.0pt"><span style="font-family:"Quicksand","serif"">in February 2019. </span></span></span></span></li>
<li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong><span style="font-size:10.0pt"><span style="font-family:"Quicksand","serif"">Steel sector:</span></span></strong><span style="font-size:10.0pt"><span style="font-family:"Quicksand","serif""> It recorded 6.7% from 4.9% over the same period. The cement sector grew 13.3% over the full year 2018-19, up from the 6.3% growth it recorded in the previous year.</span></span></span></span></li>
<li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong><span style="font-size:10.0pt"><span style="font-family:"Quicksand","serif"">Coal sector:</span></span></strong><span style="font-size:10.0pt"><span style="font-family:"Quicksand","serif""> It recorded growth 9.1% from 7.4% in February 2019. </span></span></span></span></li>
<li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong><span style="font-size:10.0pt"><span style="font-family:"Quicksand","serif"">Crude oil sector:</span></span></strong><span style="font-size:10.0pt"><span style="font-family:"Quicksand","serif""> It contracted by 6.2% compared with contraction of 6.1% in February 2019. </span></span></span></span></li>
<li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong><span style="font-size:10.0pt"><span style="font-family:"Quicksand","serif"">Refinery products:</span></span></strong><span style="font-size:10.0pt"><span style="font-family:"Quicksand","serif""> It recorded 4.3% growth in March 2019 as compared with contraction of 0.8% in February 2019. </span></span></span></span></li>
<li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong><span style="font-size:10.0pt"><span style="font-family:"Quicksand","serif"">Natural gas sector</span></span></strong><span style="font-size:10.0pt"><span style="font-family:"Quicksand","serif"">: It saw growth slowed in March 2019 to 1.4% from 3.8% in February 2019. The sector saw growth for the full year slipping to 0.8% in 2018-19 from 2.9% in 2017-18.</span></span></span></span></li>
<li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong><span style="font-size:10.0pt"><span style="font-family:"Quicksand","serif"">Fertilizer sector: </span></span></strong><span style="font-size:10.0pt"><span style="font-family:"Quicksand","serif"">Its growth quickened in March 2019 to 4.3% from 2.5% in February 2019.</span></span></span></span></li>
<li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong><span style="font-size:10.0pt"><span style="font-family:"Quicksand","serif"">Electricity sector:</span></span></strong><span style="font-size:10.0pt"><span style="font-family:"Quicksand","serif""> It recorded growth of 1.4% compared with 1.2% in February 2019. </span></span></span></span></li>
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<p style="margin-left:0in; margin-right:0in; text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong><span style="font-size:10.0pt"><span style="font-family:"Quicksand","serif"">About Index of Eight Core Industries (ICI) </span></span></strong></span></span></p>
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<li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:10.0pt"><span style="font-family:"Quicksand","serif"">It is monthly production volume index of eight core industries of the economy. It is considered as lead indicator of monthly industrial performance. Its base year is 2011-12.</span></span></span></span></li>
<li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:10.0pt"><span style="font-family:"Quicksand","serif"">It measures individual as well as collective performance of production in selected eight core industries viz. Petroleum Refinery Products, Natural Gas, Coal, Fertilizers, Crude Oil, Steel, Cement and Electricity. </span></span></span></span></li>
<li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:10.0pt"><span style="font-family:"Quicksand","serif"">These eights industries are main industry of the economy i.e. are considered as backbone of all other industries. They have significant impact on general economic activities as well as industrial activities. </span></span></span></span></li>
<li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:10.0pt"><span style="font-family:"Quicksand","serif"">It is compiled and released by Office of Economic Adviser (OEA), Department for Promotion of Industry and Internal Trade (earlier DIPP), Ministry of Commerce & Industry. </span></span></span></span></li>
<li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:10.0pt"><span style="font-family:"Quicksand","serif"">These eight core sectors constitute 40.27% of total of the weight of items included Index of Industrial Production (IIP). </span></span></span></span></li>
<li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong><span style="font-size:10.0pt"><span style="font-family:"Quicksand","serif"">Components and weightages of core sectors:</span></span></strong><span style="font-size:10.0pt"><span style="font-family:"Quicksand","serif""> Petroleum Refinery production (weight: 28.04), electricity generation (9.85), Steel production (17.92), Coal production (10.33), Crude Oil production (8.98), Natural Gas production (6,88), Cement production (5.37) and Fertilizers production (2.63). </span></span></span></span></li>
<li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:10.0pt"><span style="font-family:"Quicksand","serif"">Note: Highest weightage is for Petroleum Refinery production (weight: 28.04) and lowest is for Fertilizers production (2.63).</span></span></span></span></li>
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'description' => '<p style="margin-left:0in; margin-right:0in; text-align:justify"><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:10.0pt"><span style="font-family:"Quicksand","serif"">According to data released by Ministry of Commerce, the combined index of the eight sectors recorded 4.7</span></span><span style="font-size:10.0pt"><span style="font-family:"Quicksand","serif"">%</span></span><span style="font-size:10.0pt"><span style="font-family:"Quicksand","serif""> growth in March 2019. It is highest growth recorded by eight core sectors in past five-months. This growth was </span></span><span style="font-size:10.0pt"><span style="font-family:"Quicksand","serif"">driven by broad-based recovery in sectors such as <em>cement, refinery products, steel, and coal</em>.</span></span></span></span></p>
<p style="margin-left:0in; margin-right:0in; text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong><span style="font-size:10.0pt"><span style="font-family:"Quicksand","serif"">Sector wise Performance (March 2019)</span></span></strong></span></span></p>
<ul>
<li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong><span style="font-size:10.0pt"><span style="font-family:"Quicksand","serif"">Cement sector:</span></span></strong><span style="font-size:10.0pt"><span style="font-family:"Quicksand","serif""> It saw strongest rebound in March 2019, growing 15.7</span></span><span style="font-size:10.0pt"><span style="font-family:"Quicksand","serif"">%</span></span><span style="font-size:10.0pt"><span style="font-family:"Quicksand","serif""> compared with 8</span></span><span style="font-size:10.0pt"><span style="font-family:"Quicksand","serif"">%</span></span><span style="font-size:10.0pt"><span style="font-family:"Quicksand","serif"">in February 2019. </span></span></span></span></li>
<li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong><span style="font-size:10.0pt"><span style="font-family:"Quicksand","serif"">Steel sector:</span></span></strong><span style="font-size:10.0pt"><span style="font-family:"Quicksand","serif""> It recorded 6.7% from 4.9% over the same period. The cement sector grew 13.3% over the full year 2018-19, up from the 6.3% growth it recorded in the previous year.</span></span></span></span></li>
<li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong><span style="font-size:10.0pt"><span style="font-family:"Quicksand","serif"">Coal sector:</span></span></strong><span style="font-size:10.0pt"><span style="font-family:"Quicksand","serif""> It recorded growth 9.1% from 7.4% in February 2019. </span></span></span></span></li>
<li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong><span style="font-size:10.0pt"><span style="font-family:"Quicksand","serif"">Crude oil sector:</span></span></strong><span style="font-size:10.0pt"><span style="font-family:"Quicksand","serif""> It contracted by 6.2% compared with contraction of 6.1% in February 2019. </span></span></span></span></li>
<li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong><span style="font-size:10.0pt"><span style="font-family:"Quicksand","serif"">Refinery products:</span></span></strong><span style="font-size:10.0pt"><span style="font-family:"Quicksand","serif""> It recorded 4.3% growth in March 2019 as compared with contraction of 0.8% in February 2019. </span></span></span></span></li>
<li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong><span style="font-size:10.0pt"><span style="font-family:"Quicksand","serif"">Natural gas sector</span></span></strong><span style="font-size:10.0pt"><span style="font-family:"Quicksand","serif"">: It saw growth slowed in March 2019 to 1.4% from 3.8% in February 2019. The sector saw growth for the full year slipping to 0.8% in 2018-19 from 2.9% in 2017-18.</span></span></span></span></li>
<li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong><span style="font-size:10.0pt"><span style="font-family:"Quicksand","serif"">Fertilizer sector: </span></span></strong><span style="font-size:10.0pt"><span style="font-family:"Quicksand","serif"">Its growth quickened in March 2019 to 4.3% from 2.5% in February 2019.</span></span></span></span></li>
<li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong><span style="font-size:10.0pt"><span style="font-family:"Quicksand","serif"">Electricity sector:</span></span></strong><span style="font-size:10.0pt"><span style="font-family:"Quicksand","serif""> It recorded growth of 1.4% compared with 1.2% in February 2019. </span></span></span></span></li>
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<p style="margin-left:0in; margin-right:0in; text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong><span style="font-size:10.0pt"><span style="font-family:"Quicksand","serif"">About Index of Eight Core Industries (ICI) </span></span></strong></span></span></p>
<ul>
<li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:10.0pt"><span style="font-family:"Quicksand","serif"">It is monthly production volume index of eight core industries of the economy. It is considered as lead indicator of monthly industrial performance. Its base year is 2011-12.</span></span></span></span></li>
<li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:10.0pt"><span style="font-family:"Quicksand","serif"">It measures individual as well as collective performance of production in selected eight core industries viz. Petroleum Refinery Products, Natural Gas, Coal, Fertilizers, Crude Oil, Steel, Cement and Electricity. </span></span></span></span></li>
<li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:10.0pt"><span style="font-family:"Quicksand","serif"">These eights industries are main industry of the economy i.e. are considered as backbone of all other industries. They have significant impact on general economic activities as well as industrial activities. </span></span></span></span></li>
<li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:10.0pt"><span style="font-family:"Quicksand","serif"">It is compiled and released by Office of Economic Adviser (OEA), Department for Promotion of Industry and Internal Trade (earlier DIPP), Ministry of Commerce & Industry. </span></span></span></span></li>
<li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:10.0pt"><span style="font-family:"Quicksand","serif"">These eight core sectors constitute 40.27% of total of the weight of items included Index of Industrial Production (IIP). </span></span></span></span></li>
<li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong><span style="font-size:10.0pt"><span style="font-family:"Quicksand","serif"">Components and weightages of core sectors:</span></span></strong><span style="font-size:10.0pt"><span style="font-family:"Quicksand","serif""> Petroleum Refinery production (weight: 28.04), electricity generation (9.85), Steel production (17.92), Coal production (10.33), Crude Oil production (8.98), Natural Gas production (6,88), Cement production (5.37) and Fertilizers production (2.63). </span></span></span></span></li>
<li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:10.0pt"><span style="font-family:"Quicksand","serif"">Note: Highest weightage is for Petroleum Refinery production (weight: 28.04) and lowest is for Fertilizers production (2.63).</span></span></span></span></li>
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