India’s core sector production declines 1.8% in August

New Delhi [India], September 30 (ANI): The combined Index of Eight Core Industries (ICI) declined by 1.8 per cent (provisional) in August as compared to the same month last year.

The production of coal, crude oil, natural gas, petroleum refinery products, cement, and electricity recorded negative growth, whereas only steel and fertilizers recorded positive growth in August 2024.

The Index measures the combined and individual performance of production of eight core industries.

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

The cumulative growth rate of the Index of Eight Core Industries during April to August (2024-25) is 4.6 percent (provisional) as compared to the corresponding period of last year.

The summary of the Index of Eight Core Industries is given below:

Coal – Coal production (weight: 10.33 per cent) declined by 8.1 per cent in August, 2024 over August, 2023. Its cumulative index increased by 6.5 per cent during April to August, 2024-25 over corresponding period of the previous year.

Crude Oil – Crude Oil production (weight: 8.98 per cent) declined by 3.4 per cent in August, 2024 over August, 2023. Its cumulative index declined by 1.7 per cent during April to August, 2024-25 over corresponding period of the previous year.

Natural Gas – Natural Gas production (weight: 6.88 per cent) declined by 3.6 per cent in August, 2024 over August, 2023. Its cumulative index increased by 2.6 per cent during April to August, 2024-25 over corresponding period of the previous year.

Petroleum Refinery Products – Petroleum Refinery production (weight: 28.04 per cent) declined by 1.0 per cent in August, 2024 over August, 2023. Its cumulative index increased by 1.7 per cent during April to August, 2024-25 over corresponding period of the previous year.

Fertilizers – Fertilizer production (weight: 2.63 per cent) increased by 3.2 per cent in August, 2024 over August, 2023. Its cumulative index increased by 1.7 per cent during April to August, 2024-25 over corresponding period of the previous year.

Steel – Steel production (weight: 17.92 per cent) increased by 4.5 per cent in August, 2024 over August, 2023. Its cumulative index increased by 7.3 per cent during April to August, 2024-25 over corresponding period of the previous year.

Cement – Cement production (weight: 5.37 per cent) declined by 3.0 per cent in August, 2024 over August, 2023. Its cumulative index increased by 0.7 per cent during April to August, 2024-25 over corresponding period of the previous year.

Electricity – Electricity generation (weight: 19.85 per cent) declined by 5.0 per cent in August, 2024 over August, 2023. Its cumulative index increased by 6.8 per cent during April to August, 2024-25 over corresponding period of the previous year.