Core sector growth slows to 4% in December

01 Feb 2018 Evaluate

India’s core sector output grew at a slower pace of 4.0% in December 2017, from 7.4% in November 2017, on the back of declining coal and crude oil output. According to the data released by the ministry of Commerce and Industry showed the combined Index of eight core industries stood at 129.1 in December, 2017, which was 4.0% higher compared to the index of December, 2016. Its cumulative growth during April to December, 2017-18 was 4.0%. 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, Coal production having 10.33% weight fell 0.1% in December, 2017 over December, 2016, while its cumulative index increased by 1.3% during April to December, 2017-18 over corresponding period of the previous year. Petroleum Refinery production having 28.04% weight jumped 6.6% in December, 2017 over December, 2016 and its cumulative index increased by 3.9% during April to December, 2017-18 over the corresponding period of previous year. Electricity generation having 19.85% weight surged 3.3% in December, 2017 over December, 2016 and its cumulative index rose by 4.9% during April to December, 2017-18 over the corresponding period of previous year.

The Natural Gas production having 6.88% weight advanced 1.0% in December, 2017 over December, 2016 and its cumulative index was up by 4.0% during April to December, 2017-18 over the corresponding period of previous year. Steel production having 17.92% weight rose by 2.6% in December, 2017 over December, 2016 and its cumulative index jumped by 6.7% during April to December, 2017-18 over the corresponding period of previous year.

Crude Oil production having 8.98% weight declined by 2.1% in December, 2017 over December, 2016, and its cumulative index fell by 0.4% during April to December, 2017-18 over the corresponding period of previous year. Fertilizer production having 2.63% weight increased by 3.0% in December, 2017 over December, 2016, while its cumulative index declined 0.6% during April to December, 2017-18 over the corresponding period of previous year. On the other hand, Cement production having 5.37% weight was up by 19.6% in December, 2017 over December, 2016 and its cumulative index increased by 2.7% during April to December, 2017-18 over the corresponding period of previous year.

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