New Delhi, SEP: India’s eight core sectors logged a growth of 4.5 percent (provisional) last month (July) down from the growth rate of 9.9 percent logged during July 2021, said the Ministry of Commerce & Industry.
The government also revised the final growth rate of the Index of Eight Core Industries for April 2022 to 9.5 percent from its provisional level of 8.4 percent. The Index of Core Industries (ICI) measures the 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 production of coal, refinery products, fertilizers, steel, electricity, and cement industries increased in July 2022 over the corresponding period of last year.
The growth rate of ICI during April-July 2022-23 was 11.5 percent (provisional) as compared to the corresponding period of the last financial year, the government said.
The eight core industries comprise 40.27 percent of the weight of items included in the Index of Industrial Production (IIP).
According to the Ministry of Commerce & Industry, coal production increased by 11.4 percent in July 2022 over July 2021.
The production of crude oil and natural gas declined by 3.8 percent and 0.3 percent in July 2022, as compared to the figures of July 2021.
On the other hand, last month the production of petroleum refinery products went up by 6.2 percent, fertilizers by 6.2 percent, steel by 5.7 percent, cement by 2.1 percent, and electricity generation by 2.2 percent, over the figures logged during July 2021.
