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Business EconomyPosted at: Aug 30 2024 5:55PM


Growth of 8 core industries slows down to 6.1 pc in July 2024

New Delhi, Aug 30 (UNI) Witnessing a slowdown, the production of eight core industries grew at 6.1 percent (provisional) year-on-year basis in the month of July 2024 compared to 8.5 percent growth in the same month in 2023, according to official data released by the Government on Friday.
The Index of Core Industries (ICI) measures the combined and individual performance of production of eight core industries viz. Cement, Coal, Crude Oil, Electricity, Fertilizers, Natural Gas, Refinery Products and Steel. The Eight Core Industries comprise 40.27 percent of the weight of items included in the Index of Industrial Production (IIP).
The cumulative growth during April-July period of 2024 also decelerated to 6.1 percent (provisional) compared to 6.6 percent in the same period of last year 2023, according to data by the Ministry of Commerce & Industry.
Production of Steel, Electricity, Coal, Refinery Products, Cement, and Fertilizers recorded positive growth in the month of July 2024, the Ministry said.
Cement production (weight - 5.37 percent) increased by 5.5 pe cent in July, 2024 over same month in 2023, the data by the ministry said, adding its cumulative index increased by 1.6 percent during first 4 months of current financial year (April to July, 2024-25) over corresponding period of the previous financial year.
Coal production carrying a weightage of 10.33 percent grew by 6.8 percent in July, 2024 over corresponding month last year. Its cumulative index increased by 9.9 percent during April to July, 2024-25 over corresponding period of the previous year.
Crude Oil production with 8.98 percent weight declined by 2.9 percent in July, 2024 over July, 2023. Its cumulative index also declined by 1.3 per ent during April to July, 2024-25 over corresponding period of the previous year.
Electricity generation with 19.85 percent weight increased by 7.0 percent in July, 2024 over July, 2023. Its cumulative index increased by 9.9 percent during April to July, 2024-25 over corresponding period of the previous year.
Petroleum Refinery production with weightage of 28.04 percent increased by 6.6 percent in July, 2024 over July, 2023, the Ministry said, adding that Steel production (17.92 percent weight) increased by 7.2 percent in July, 2024 over July, 2023.
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Tags: #Growth of 8 core industries slows down to 6.1 pc in July 2024
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