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India's core sector output growth slows down to 3.3 pct in August India Core Sector
UNI

India's core sector output growth slows down to 3.3 pct in August

India Blooms News Service | @indiablooms | 30 Sep 2022, 06:41 pm

New Delhi: India's core sector output grew 3.3 per cent year-on-year in August, 2022 as compared to 12.2 per cent in the corresponding period last year, showed the data released by the Commerce and Industry Ministry on Friday.

The production of Fertilizers, Coal, Refinery Products, Steel, Cement and Electricity industries increased in August 2022 over the corresponding period of last year. ICI measures combined and individual performance of production in selected eight core industries viz. Coal, Crude Oil, Natural Gas, Refinery Products, Fertilizers, Steel, Cement and Electricity.

The Eight Core Industries comprise 40.27 percent of the weight of items included in the Index of Industrial Production (IIP). Details of yearly and monthly indices and growth rates are provided at Annex I & II respectively.

Final growth rate of Index of Eight Core Industries for May 2022 is revised to 19.3% from its provisional level 18.1%. The growth rate of ICI during April-August 2022-23 was 9.8% (P) as compared to the corresponding period of last FY.

The summary of the Index of Eight Core Industries is given below:

Coal –Coal production (weight: 10.33 per cent) increased by 7.6 per cent in August, 2022 over August, 2021. Its cumulative index increased by 22.7 per cent during April to August, 2022-23 over corresponding period of the previous year.

Crude Oil–Crude Oil production (weight: 8.98 per cent) declined by 3.3 per cent in August, 2022 over August, 2021. Its cumulative index declined by 1.1 per cent during April to August, 2022-23 over the corresponding period of previous year.

Natural Gas - Natural Gas production (weight: 6.88 per cent) declined by 0.9 per cent in August, 2022 over August, 2021. Its cumulative index increased by 2.6 per cent during April to August, 2022-23 over the corresponding period of previous year.

Petroleum Refinery Products–Petroleum Refinery production (weight: 28.04 per cent) increased by 7.0 per cent in August, 2022 over August, 2021. Its cumulative index increased by 10.8 per cent during April to August, 2022-23 over the corresponding period of previous year.

Fertilizers –Fertilizers production (weight: 2.63 per cent) increased by 11.9 per cent in August, 2022 over August, 2021. Its cumulative index increased by 11.4 per cent during April to August, 2022-23 over the corresponding period of previous year.

Steel –Steel production (weight: 17.92 per cent) increased by 2.2 per cent in August, 2022 over August, 2021. Its cumulative index increased by 5.8 per cent during April to August, 2022-23 over the corresponding period of previous year.

Cement –Cement production (weight: 5.37 per cent) increased by 1.8 per cent in August, 2022 over August, 2021. Its cumulative index increased by 10.6 per cent during April to August, 2022-23 over the corresponding period of previous year.

Electricity –Electricity generation (weight: 19.85 per cent) increased by 0.9 per cent in August, 2022 over August, 2021. Its cumulative index increased by 10.5 per cent during April to August, 2022-23 over the corresponding period of previous year.