Business
Output Of Eight Core Industries Grows By 18.1 Per Cent In May
Electricity is one of the eight core industries (Representative Image)
India's combined Index of eight core Industries grew at 18.1 per cent in May 2022 as compared to the Index of May 2021, an official release said on Thursday (30 June).
The Department for Promotion of Industry and Internal Trade released the Index of Eight Core Industries (ICI) for the Month of May 2022 today.
ICI measures combined and individual performance of production in selected eight core industries including Coal, Crude Oil, Natural Gas, Refinery Products, Fertilisers, Steel, Cement and Electricity.
The Index stood at 148.1 in May 2022.
The production of Cement, Coal, Fertilisers and Electricity industries recorded high growth in May 2022 over the corresponding period of last year.
Coal industries grew by 25.1 per cent and Fertiliser industries were up by 22.8 per cent. While the cement industries zoomed by 26.3 per cent, the electricity sector increased by 22 per cent.
The Eight Core Industries comprise 40.27 percent of the weight of items included in the Index of Industrial Production (IIP).
The final growth rate of Index of Eight Core Industries for February 2022 is revised to 5.9 per cent from its provisional level 5.8 per cent. The growth rate of ICI during April-May 2022-23 was 13.6 per cent as compared to the corresponding period of last financial year.
The summary of the Index of Eight Core Industries is as follows:
Coal –Coal production (weight: 10.33 per cent) increased by 25.1 per cent in May, 2022 over May, 2021. Its cumulative index increased by 26.9 per cent during April to May, 2022-23 over corresponding period of the previous year.
Crude Oil–Crude Oil production (weight: 8.98 per cent) increased by 4.6 per cent in May, 2022 over May, 2021. Its cumulative index increased by 1.8 per cent during April to May, 2022-23 over the corresponding period of previous year.
Natural Gas - Natural Gas production (weight: 6.88 per cent) increased by 7.0 per cent in May, 2022 over May, 2021. Its cumulative index increased by 6.7 per cent during April to May, 2022-23 over the corresponding period of previous year.
Petroleum Refinery Products–Petroleum Refinery production (weight: 28.04 per cent) increased by 16.7 per cent in May, 2022 over May, 2021. Its cumulative index increased by 12.8 per cent during April to May, 2022-23 over the corresponding period of previous year.
Fertilizers –Fertilizers production (weight: 2.63 per cent) increased by 22.8 per cent in May, 2022 over May, 2021. Its cumulative index increased by 16.3 per cent during April to May, 2022-23 over the corresponding period of previous year.
Steel –Steel production (weight: 17.92 per cent) increased by 15.0 per cent in May, 2022 over May, 2021. Its cumulative index increased by 8.4 per cent during April to May, 2022-23 over the corresponding period of previous year.
Cement –Cement production (weight: 5.37 per cent) increased by 26.3 per cent in May, 2022 over May, 2021. Its cumulative index increased by 15.9 per cent during April to May, 2022-23 over the corresponding period of previous year.
Electricity –Electricity generation (weight: 19.85 per cent) increased by 22.0 per cent in May, 2022 over May, 2021. Its cumulative index increased by 16.7 per cent during April to May, 2022-23 over the corresponding period of previous year.
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