Core sector output grows 12.7% YoY in June

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Indias core sector output up 127 in June

(Representative image) A wind turbine and an electricity pylon are seen in Finedon, Britain, March 30, 2022. REUTERS/Andrew Boyers/File Photo

India’s core sector expanded 12.7% in June as compared to 9.4% in the corresponding period last year, according to data released by Ministry of Commerce & Industry on Friday. Annualised core sector growth in the previous month was 18.1%.

Coal, cement, electricity, refinery products, fertilisers, steel and natural gas industries grew in June over the year-ago period, as per government data. Crude oil saw contraction.

Coal production grew 31.1% on a yearly basis while refinery products increased 15.1%. Cement and electricity were up 19.4% and 15.5% respectively.

Core industries collectively weigh 40.27% among all constituents of the Index of Industrial Production (IIP).

ICI measures combined and individual performance of production in selected eight core industries viz. Coal, Crude Oil, Natural Gas, Refinery Products, Fertilizers, Steel, Cement and Electricity.

The Eight Core Industries comprise 40.27 percent of the weight of items included in the Index of Industrial Production (IIP).

Final growth rate of Index of Eight Core Industries for March 2022 is revised to 4.8% from its provisional level 4.3%. The growth rate of ICI during April-June 2022-23 was 13.7% as compared to the corresponding period of last FY.

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