India's Core Sector Output Falls To 5-Month Low Of 3.6 Per Cent In March: Govt Data

The production of coal, fertilisers, steel, natural gas and refinery products increased in March 2023 over the corresponding month of last year, data showed

Written By : ABP News Bureau | Updated at : 28 Apr 2023 06:31 PM (IST)

India's Core Sector Output Falls To 3.6 Per Cent In March Govt Data India's Core Sector Output Falls To 5-Month Low Of 3.6 Per Cent In March: Govt Data

Coal production (weight: 10.33 per cent) increased by 12.2 per cent in March, 2023 over March, 2022.

Source : Getty

India's core sector output clocked growth of 3.6 per cent year-on-year (YoY) in March as against 6 per cent in the previous month, according to a data released by the government on Friday. However, the growth rate declined as compared to the preceding month of February 2023, when it stood at 6 per cent.

The production of coal, fertilisers, steel, natural gas and refinery products increased in March 2023 over the corresponding month of last year, data showed. Infrastructure output, which comprises eight sectors, including coal and electricity, accounting for nearly 40 per cent of industrial output, rose 7.6 per cent in the April 2022 to March 2023 financial year, the data revealed.

The production of coal, fertilisers, steel, natural gas and refinery products increased in March 2023 over the corresponding month of last year.

According to the 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 percent of the weight of items included in the Index of Industrial Production (IIP).

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

Coal - Coal production (weight: 10.33 per cent) increased by 12.2 per cent in March, 2023 over March, 2022. Its cumulative index increased by 14.8 per cent during 2022-23 over corresponding period of the previous year.

Crude Oil - Crude Oil production (weight: 8.98 per cent) declined by 2.8 per cent in March, 2023 over March, 2022. Its cumulative index declined by 1.7 per cent during 2022-23 over the corresponding period of previous year.

Natural Gas - Natural Gas production (weight: 6.88 per cent) increased by 2.8 per cent in March, 2023 over March, 2022. Its cumulative index increased by 1.6 per cent during 2022-23 over the corresponding period of previous year.

Petroleum Refinery Products - Petroleum Refinery production (weight: 28.04 per cent) increased by 1.5 per cent in March, 2023 over March, 2022. Its cumulative index increased by 4.8 per cent during 2022-23 over the corresponding period of previous year.

Fertilisers - Fertilisers production (weight: 2.63 per cent) increased by 9.7 per cent in March, 2023 over March, 2022. Its cumulative index increased by 11.3 per cent during 2022-23 over the corresponding period of previous year.

Steel - Steel production (weight: 17.92 per cent) increased by 8.8 per cent in March, 2023 over March, 2022. Its cumulative index increased by 8.6 per cent during 2022-23 over the corresponding period of previous year.

Cement - Cement production (weight: 5.37 per cent) declined by 0.8 per cent in March, 2023 over March, 2022. Its cumulative index increased by 8.6 per cent during 2022-23 over the corresponding period of previous year.

Electricity - Electricity generation (weight: 19.85 per cent) declined by 1.8 per cent in March, 2023 over March, 2022. Its cumulative index increased by 8.9 per cent during 2022-23 over the corresponding period of previous year.