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As the Main purpose of the Relay is "Protection" so Protection CT means to protect the circuit when it has crossed the protection limits i.e when there comes a fault in circuit the relay cuts it off from the circuit and hence it is protect
CT Measurement means to measure the power distribution from the Generating end to Transmitting end
CT for the protection has the ability to measure and convert that current value to the low value and provide it to the relay circuit for isolation of faulty element from the system.
Protection CT core will be designed, in such a way that during fault condition it will not get saturated for huge primary current. unlike instrument transformer core get saturated for a small increase in primary current (based on instrument limit factor like1.5,2....).
At the same time there is limit factors for Accuracy limit current like10,15,20,30...for protection CT also, beyond which core starts saturate, secondary current will not increase. Hence relay is safe guarded for maximum current limit for that connected relay.
Protection CT is use to produce the output according to fault current wich could be many times high then its rating. that's why it is designe below saturation point. So its accuracy is low.
Measuring CT is use to produce most accurate output accoring input cuurnt so, it is designe near saturation point.