Core sector output accelerates to 2.4% in July

01 Sep 2017 Evaluate

With higher production in steel and electricity, India’s core sector output accelerated to 2.4% in the month of July 2017, as compared to 0.8% in June 2017. According to that data released by the ministry of Commerce and Industry showed the combined Index of eight core industries stood at119.8 in July, 2017, which was 2.4% higher compared to the index of July, 2016. Its cumulative growth during April to July, 2017-18 was 2.5%. The Eight Core Industries - coal, crude oil, natural gas, refinery products, fertilisers, steel, cement and electricity - comprise 40.27% of the weight of items included in the Index of Industrial Production (IIP).

Among eight core sectors, steel production having 17.92% weight jumped 9.2% in July, 2017 over July, 2016 and its cumulative index increased by 6.9% during April to July, 2017-18 over the corresponding period of previous year. The Natural Gas production having 6.88% weight surged 6.6% in July, 2017 over July, 2016 and its cumulative index increased by 4.9% during April to July, 2017-18 over the corresponding period of previous year. Electricity generation having 19.85% weight rose 5.4% in July, 2017 over July, 2016 and its cumulative index increased by 5.4 % during April to July, 2017-18 over the corresponding period of previous year. Coal production having 10.33% weight was up by 0.7% in July, 2017 over July, 2016, while its cumulative index declined by 3.3% during April to July, 2017-18 over corresponding period of the previous year.

On the other hand, Petroleum Refinery production having 28.04% weight slipped 2.7% in July, 2017 over July, 2016, while its cumulative index increased by 0.7% during April to July, 2017-18 over the corresponding period of previous year. Cement production having 5.37% weight dropped 2.0 % in July, 2017 over July, 2016 and its cumulative index declined by 3.5% during April to July, 2017-18 over the corresponding period of previous year. Crude Oil production having 8.98% weight decreased by 0.5% in July, 2017 over July, 2016, while its cumulative index increased by 0.05% during April to July, 2017-18 over the corresponding period of previous year. Fertilizer production having 2.63% weight was down by 0.3 % in July, 2017 over July, 2016 and its cumulative index declined by 1.5% during April to July, 2017-18 over the corresponding period of previous year.

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