New Delhi: There is a clear improvement in industrial production outlook as the financial year moves closer towards its end. Eight main industries have accounted a significant 6.8 percent growth in February. Coal industry is most prominent contributor with 17.8 percent growth in February. However, in the first 11 months of ongoing FY, the eight leading industries have achieved a growth rate of 4.4 percent.

The performance of eight leading industries is estimated to impact the industrial production figures of the country. Inflation is on the decline and the RBI has taken decision to expedite loans for industry. The Finance Minister Pranab Mukherjee has already indicated  cutting interest rate in the annual monetary policy review next month. Such initiatives of the government are expected to facilitate economic progress right from the beginning of the next FY.

Cement industry has witnessed a growth rate of 10.8 percent in February. But out of the main industries, coal industry has accounted most significant jump. Coal production fell by 5.8 percent in February last year. Coal output was on lower side till October in current FY but has seen spike afterwards.

Electricity production has also seen progress in February. It has grown by 8 percent. Its growth was at 7.2 percent in the same month last year. However, steel production has declined as compared to same month last year. It has grown by only 4.3 percent in February whereas it grew by 18.5 percent in the month of February last year.

Production of petroleum refinery products grew by 6.2 percent whereas crude oil production accounted a meager 0.4 percent growth. Fertiliser production has grown by 4.1 percent whereas the growth was 4.3 percent in same month last year.