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Core Sector Output Grows At 12.7% in June; Crude Oil Production Sees Decline


Eight infrastructure sectors grew 12.7 per cent (provisional) in June as compared with 9.4 per cent in the year-ago period. However, in May 2022, the output of eight infrastructure sectors — coal, crude oil, natural gas, refinery products, fertiliser, steel, cement and electricity — had expanded by 19.3 per cent.

The output of electricity, refinery products, fertiliser, cement and coal in June rose by 15.5 per cent, 15.1 per cent, 8.2 per cent, 19.4 per cent, and 31.1 per cent, respectively, according to the official data released on Friday.

During April-June 2022, the growth rate of core industries stood at 13.7 per cent (provisional) as compared to the corresponding period of the previous financial year. During June 2022, the core industries recorded the double-digit growth on the back of output in cement, electricity, coal and refinery sectors.

Barring crude oil production, all other sectors showed a positive growth.

Coal production increased 31.1 per cent in June 2022 over June 2021. Its cumulative index increased by 31.2 per cent during April-June 2022 over the corresponding period of previous year.

Crude oil production declined by 1.7 per cent in June 2022 over June 2021. Its cumulative index increased by 0.6 per cent during April-June 2022 over the corresponding period of previous year.

Natural gas production increased 1.2 per cent in June 2022 over June 2021. Its cumulative index increased 4.8 per cent during April-June 2022 over the corresponding period of previous year.

Petroleum refinery production increased 15.1 per cent in June 2022 over June 2021. Its cumulative index increased 13.5 per cent during April-June 2022 over the corresponding period of previous year.

Fertilisers production increased 8.2 per cent in June 2022 over June 2021. Its cumulative index increased by 13.2 per cent during April-June 2022 over the corresponding period of previous year.

Steel production rose 3.3 per cent in June 2022 over June 2021. Its cumulative index increased 6.6 per cent during April-June 2022 over the corresponding period of previous year.

Cement production jumped 19.4 per cent in June 2022 over June 2021. Its cumulative index increased 17.1 per cent during April-June 2022 over the corresponding period of previous year.

Electricity generation saw a rise of 15.5 per cent in June 2022 over June 2021. Its cumulative index increased 16.8 per cent during April-June 2022 over the corresponding period of previous year.

The Department for Promotion of Industry and Internal Trade released the Index of Eight Core Industries (ICI) for the Month of June 2022 on Friday. 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).

The final growth rate of Index of Eight Core Industries for March 2022 is revised to 4.8 per cent from its provisional level 4.3 per cent. The growth rate of ICI during April-June 2022-23 was 13.7 per cent (provisional) as compared to the corresponding period of last financial year.

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