The output of eight core industries declined by 0.4 per cent in April this year on poor performance of electricity, cement, refinery products and fertiliser sectors. Coal and steel were only two sectors which registered some growth during the period. The output had declined by 0.1 per cent in March 2015, while it had seen a growth of 5.7 per cent a year ago in April last year. According to the Core Sector data released by Commerce and Industry Ministry, the overall growth of eight core industries in the entire 2014-15 fiscal stood at 3.6 per cent against 4.2 per cent in the previous fiscal. The eight sectors contribute 38 per cent to the overall industrial production, a parameter that the Reserve Bank takes into account while framing its monetary policy. In April 2015, the output of crude oil declined by 2.7 per cent, natural gas by 3.6 per cent, electricity by 1.1 percent and cement by 2.4 per cent. The production of refinery products too declined by 2.9 per cent and fertiliser output shrunk by 0.04 per cent. Growth in steel output increased by 0.6 per cent in April and Coal production grew by 7.9 per cent. The growth rate of core sector industries has been declining since November last year. It was 6.7 per cent in November 2014, which fell to 2.4 per cent in December 2014 and then to 1.8 per cent in January and 1.4 per cent in February, 2015.