India's core sector output grows 7.4 pc in December
Jan 31, 2023
New Delhi [India], January 31 India's output of eight core industries registered a 7.4 per cent growth in December 2022, against 4.1 per cent growth during December 2021, according to the ministry of commerce and industry.
The production of coal, electricity, steel, cement, fertilisers, refinery products and natural gas increased in December 2022 over the corresponding month of last year. Index of eight core industries (ICI) measures the combined and individual performance of production of eight core industries, namely coal, crude oil, natural gas, refinery products, fertilisers, steel, cement and electricity.
According to the statement released by the ministry of commerce and industry on Tuesday, 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 September 2022 is revised to 8.3 per cent from its provisional level 7.9 per cent. The cumulative growth rate of ICI during April-December 2022 was 8 per cent (provisional) as compared to the corresponding period of last year, according to the ministry's statement.
According to the statement, coal production rose 11.5 per cent in December 2022 over December 2021. Its cumulative index increased by 16.4 per cent during April to December 2022 over the corresponding period of the previous year. Natural Gas production surged 2.6 per cent in December 2022 over December 2021. Its cumulative index increased 0.9 per cent during April to December 2022 over the corresponding period of previous year.
Petroleum refinery production went up 3.7 per cent in December 2022 over previous year's period. Its cumulative index increased by 5.5 per cent during April-December 2022 over the year-ago period.
According to the statement, fertiliser production surged 7.3 per cent in December 2022 over December 2021. Its cumulative index rose 9.6 per cent during April-December 2022 over the corresponding period of the previous year.
The statement also said steel production increased by 9.2 per cent in December 2022 over December 2021. Its cumulative index rose 7.7 per cent during April-December 2022 over the year-ago period. It also added that cement production grew 9.1 per cent in December 2022 over December 2021. Its cumulative index increased by 10.6 per cent during April-December 2022 over the corresponding period of the previous year.
Electricity generation increased by 10 per cent in December 2022 over December 2021. Its cumulative index grew 9.8 per cent during April-December 2022 over the corresponding period of the previous year, according to the ministry's statement.
Crude oil production declined by 1.2 per cent in December 2022 over December 2021, the ministry said, adding that its cumulative index declined by 1.3 per cent during April to December 2022 over the corresponding period of the previous year.
