Growth in eight core sectors surges to 6.7% in January

01 Mar 2018 Evaluate

India’s core sector output expanded at a faster pace of 6.7% in January 2018, against the 4.2% growth recorded in December 2017, as petroleum refinery and cement output zoomed while steel power and coal production improved. According to data released by the ministry of Commerce and Industry it showed the combined Index of eight core industries stood at 133.1 in January, 2018, which was 6.7% higher compared to the index of January, 2017. Its cumulative growth during April to January, 2017-18 was 4.3%. 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 surged 3.0% in January, 2018 over January, 2017 and its cumulative index increased by 1.5% during April to January, 2017-18 over corresponding period of the previous year. Petroleum Refinery production having 28.04% weight jumped 11% in January, 2018 over January, 2017 and its cumulative index increased by 4.7 % during April to January, 2017-18 over the corresponding period of previous year. Electricity generation having 19.85% weight rose 8.2% in January, 2018 over January, 2017 and its cumulative index inched up by 5.4% during April to January, 2017-18 over the corresponding period of previous year.

The Natural Gas production having 6.88% weight fell 1.0% in January, 2018 over January, 2017, while its cumulative index was up by 3.5% during April to January, 2017-18 over the corresponding period of previous year. Steel production having 17.92% weight increased by 3.7% in January, 2018 over January, 2017 and its cumulative index jumped by 6.4% during April to January, 2017-18 over the corresponding period of previous year.

Crude Oil production having 8.98% weight declined by 3.2% in January, 2018 over January, 2017 and its cumulative index fell by 0.7% during April to January, 2017-18 over the corresponding period of previous year. Fertilizer production having 2.63% weight dropped by 1.6% in January, 2018 over January, 2017 and its cumulative index declined 0.7% during April to January, 2017-18 over the corresponding period of previous year. On the other hand, Cement production having 5.37% weight was up by 20.7% in January, 2018 over January, 2017 and its cumulative index increased by 4.4% during April to January, 2017-18 over the corresponding period of previous year.

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