Monday, Dec 5 2022 | Time 04:38 Hrs(IST)
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Business Economy


Core sector output slows down to 3.3 pc in August

New Delhi, Sep 30 (UNI) India's core sector output grew 3.3 per cent year-on-year in August, 2022 as compared to 12.2 per cent in the corresponding period last year, showed the data released by the Commerce and Industry Ministry on Friday.
Production of fertilizers, coal, refinery products, steel, cement and electricity industries increased during this period while crude oil and natural gas declined.
"The combined Index of Eight Core Industries (ICI) increased by 3.3 per cent (provisional) as compared to the Index of August 2021. The production of fertilizers, coal, refinery products, steel, cement and electricity industries increased in August 2022 over the corresponding period of last year," said a press release.
The eight core industries comprise 40.27% of the weight of items included in the Index of Industrial Production (IIP).
As per the official data, growth rate of ICI during April-August 2022-23 was 9.8% (provisional) as compared to the corresponding period of last financial year.
The data showed coal production increased by 7.6% in August, 2022 over August, 2021. Its cumulative index increased by 22.7% during April to August, 2022-23 over the corresponding period of the previous year.
Crude oil production declined by 3.3% year-on-year in August while natural gas production declined by 0.9%.
According to the latest data, petroleum refinery production increased by 7% in August, 2022 over August, 2021.
"Fertilizer production (weight: 2.63 per cent) increased by 11.9 per cent in August, 2022 over August, 2021. Its cumulative index increased by 11.4 per cent during April to August, 2022-23 over the corresponding period of previous year," the release said.
While steel production increased by 2.2% year-on-year in August, cement production increased by 1.8%.
Electricity generation increased by 0.9% per cent in August, 2022 over August, 2021.
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