Output of eight core industries registers growth of 6.7% in February 2024

01 Apr 2024 Evaluate

The output of eight core industries posted a growth of 6.7 per cent in February 2024 as compared to 4.1 per cent in January 2024, led by double-digit upticks in coal, natural gas and cement. The output of core sectors was 7.4 per cent in February 2023. The Eight Core Industries - coal, crude oil, natural gas, refinery products, fertilizers, steel, cement and electricity - comprise 40.27 per cent of the weight of items included in the Index of Industrial Production (IIP).

Cement production, having 5.37 per cent weight increased by 10.2 per cent in February, 2024 over February, 2023 and its cumulative index increased by 9.1 per cent during April to February, 2023-24 over corresponding period of the previous year. Coal production, having 10.33 per cent weight increased by 11.6 per cent in February, 2024 over February, 2023 and its cumulative index increased by 12.1 per cent during April to February, 2023-24 over corresponding period of the previous year. Crude oil production, having 8.98 per cent increased by 7.9 per cent in February, 2024 over February, 2023 and its cumulative index increased by 0.5 per cent during April to February, 2023-24 over corresponding period of the previous year.

Electricity generation, having 19.85 per cent weight increased by 6.3 per cent in February, 2024 over February, 2023 and its cumulative index increased by 6.8 per cent during April to February, 2023-24 over corresponding period of the previous year. Natural Gas production, having 6.88 per cent increased by 11.3 per cent in February, 2024 over February, 2023 and its cumulative index increased by 6.0 per cent during April to February, 2023-24 over corresponding period of the previous year. Petroleum Refinery production, having 28.04 per cent weight increased by 2.6 per cent in February, 2024 over February, 2023 and its cumulative index increased by 3.8 per cent during April to February, 2023-24 over corresponding period of the previous year.

Steel production, having 17.92 per cent weight increased by 8.4 per cent in February, 2024 over February, 2023 and its cumulative index increased by 12.9 per cent during April to February, 2023-24 over corresponding period of the previous year. However, Fertilizers production, having 2.63 per cent weight declined by 9.5 per cent in February 2024 over February, 2023, while its cumulative index increased by 4.1 per cent during April to February, 2023-24 over corresponding period of the previous year.

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