India's core sector growth rises 2.2% in January

02 Mar 2020 Evaluate

The growth of India's eight core sectors has improved to 2.2% in January 2020 against 1.5% in the same month last year, helped by expansion in the production of coal, refinery products and electricity. According to data released by the ministry of Commerce and Industry, the combined Index of eight core industries stood at 137.5 in January, 2020, which was 2.2% higher compared to the index of January, 2019. 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 percent weight increased by 8.0 percent in January, 2020 over January, 2019, while its cumulative index decreased by 2.4 percent during April to January, 2019-20 over corresponding period of the previous year. Petroleum Refinery production having 28.04 percent weight increased 1.9 percent in January, 2020 over January, 2019, while its cumulative index dropped by 0.4 percent during April to January, 2019-20 over the corresponding period of previous year.

Steel production having 17.92 percent weight increased by 2.2 percent in January, 2020 over January, 2019 and its cumulative index surged by 5.3 percent during April to January, 2019-20 over the corresponding period of previous year. Electricity generation having 19.85 percent weight rose 2.8 percent in January, 2020 over January, 2019 while its cumulative index increased by 0.9 percent during April to January, 2019-20 over the corresponding period of previous year. Cement production having 5.37 percent weight increased by 5.0 percent in January, 2019 over January, 2018 and its cumulative index rose by 1.1 percent during April to January, 2019-20 over the corresponding period of previous year.

Crude Oil production having 8.98 percent weight fell by 5.3 percent in January, 2020 over January, 2019 and its cumulative index dropped by 6.0 percent during April to January, 2019-20 over the corresponding period of previous year. The Natural Gas production having 6.88 percent weight declined by 9.1 percent in January, 2020 over January, 2019, and its cumulative index was down by 4.3 percent during April to January, 2019-20 over the corresponding period of previous year. Fertilizer production having 2.63 percent weight declined by 0.1 percent in January, 2020 over January, 2019, while, its cumulative index increased by 4.2 percent during April to January, 2019-20 over the corresponding period of previous year.

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