The output of eight core industries grew by 2.1% in December 2013 against 1.7% in the previous month on the back of increased production of electricity, steel and cements sectors. The eight industries - crude oil, petroleum refinery products, natural gas, fertilisers, coal, electricity, cement and finished steel - have a weightage of 37.9% in the overall Index of Industrial Production (IIP).
Among core sectors, Electricity generation having 10.32% weight in index registered a growth of 6.7% in December, 2013 over the same month of corresponding period. During April to December 2013-14 it recorded a growth of 5.2% over the corresponding period of previous year. Steel and Cement sectors having weightage of 6.68% and 2.41% respectively in IIP index, registered a growth of 3.1% and 1.1% respectively, in the month under review over December 2012. In cumulative terms, steel and cement production was 4.2 % and 3.7% during April to December 2013-14. Crude oil, with weightage of 5.22% in index increased by 1.6% in December, 2013 over December, 2012, while its cumulative index during April to December 2013-14 moderated by 0.6% over corresponding period of previous year.
Fertilizer production with weightage of 1.25% in IIP index registered a growth of 4.1% in December, 2013 over December, 2012. The cumulative index of Fertilizer production during April to December 2013-14 grew at 2.6% on YoY basis.
On the flip side, Petroleum refinery production, representing 5.94% weight in IIP index moderated by 1.7% in December, 2013 over December 2012. Cumulative growth of Petroleum refinery production during April-December, 2013-14 grew by 2.1% over the corresponding period of previous year. Further, coal production with weightage of 4.38% in index declined by 0.6% in December, 2013 over the same period of corresponding period. However, on cumulative basis, growth during April-December, 2013-14 increased by 1.2% compared to April- December 2012-13. Natural Gas production having weightage 1.71% in IIP index declined by 9.9% in December 2013 as compared to the month in December, 2012. The cumulative index for Natural Gas production during April to December 2013-14 declined by 15% over corresponding period of previous year.
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