India's Core Sector Growth Slightly Eases To 8 Per Cent In July
At 8 per cent, the growth in eight key infrastructure industries in July is slightly lower than the 8.2 per cent logged in June, according to the Commerce and Industry Ministry data
India's eight core sectors clocked growth of 8 per cent in July, according to data released by the Ministry of Commerce and Industry on Thursday. At 8 per cent, the growth in eight key infrastructure industries, coal, crude oil, steel, cement, electricity, fertilisers, refinery products, and natural gas, in July is slightly lower than the 8.2 per cent logged in June.
According to the government release, ICI measures combined and individual performance of production of eight core industries viz. Coal, Crude Oil, Natural Gas, Refinery Products, Fertilizers, Steel, Cement and Electricity. The Eight Core Industries comprise 40.27 per cent of the weight of items included in the Index of Industrial Production (IIP).
Final growth rate of Index of Eight Core Industries for April 2023 is revised to 4.6 per cent from its provisional level 3.5 per cent. The output growth of the eight sectors was also lower at 6.4 per cent in April-July 2023-24 against 11.5 per cent in the year-ago period.
The summary of the Index of Eight Core Industries:
Coal: Coal production (weight: 10.33 per cent) increased by 14.9 per cent in July, 2023 over July, 2022. Its cumulative index increased by 10.1 per cent during April to July, 2023-24 over corresponding period of the previous year.
Crude Oil: Crude Oil production (weight: 8.98 per cent) increased by 2.1 per cent in July, 2023 over July, 2022. Its cumulative index declined by 1.0 per cent during April to July, 2023-24 over the corresponding period of previous year.
Natural Gas: Natural Gas production (weight: 6.88 per cent) increased by 8.9 per cent in July, 2023 over July, 2022. Its cumulative index increased by 2.3 per cent during April to July, 2023-24 over the corresponding period of previous year.
Petroleum Refinery Products: Petroleum Refinery production (weight: 28.04 per cent) increased by 3.6 per cent in July, 2023 over July, 2022. Its cumulative index increased by 2.3 per cent during April to July, 2023-24 over the corresponding period of previous year.
Fertilizers: Fertilizer production (weight: 2.63 per cent) increased by 3.3 per cent in July, 2023 over July, 2022. Its cumulative index increased by 9.1 per cent during April to July, 2023-24 over the corresponding period of previous year.
Steel: Steel production (weight: 17.92 per cent) increased by 13.5 per cent in July, 2023 over July, 2022. Its cumulative index increased by 15.3 per cent during April to July, 2023-24 over the corresponding period of previous year.
Cement: Cement production (weight: 5.37 per cent) increased by 7.1 per cent in July, 2023 over July, 2022. Its cumulative index increased by 11.2 per cent during April to July, 2023-24 over the corresponding period of previous year.
Electricity: Electricity generation (weight: 19.85 per cent) increased by 6.9 per cent in July, 2023 over July, 2022. Its cumulative index increased by 2.7 per cent during April to July, 2023-24 over the corresponding period of previous year.
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