Core Sector Industries Post 6.2 Per Cent Growth In April
Date
5/31/2024 10:15:16 AM
(MENAFN- IANS) New Delhi, May 31 (IANS) The eight core industries that include sectors such as coal, cement, steel and electricity posted a 6.2 per cent growth in April this year compared to the same month of the previous year, according to data released by the Commerce and industry Ministry on Friday.
Electricity generation increased by 9.4 per cent during April over the same month of the previous year. The cumulative index of electricity increased by 7.1 per cent for the financial year 2023-24, which ended on March 31, over the corresponding period of the previous year.
Steel production went up by 7.1 per cent during the month. Its cumulative index posted a robust 12.4 per cent growth during 2023-24 over the corresponding period of the previous year.
Coal production increased by 7.5 per cent in April while the cumulative index for the fuel increased by 11.8 per cent during 2023-24 over the corresponding period of the previous year.
Natural Gas production increased by 8.6 per cent in April 2024 over April 2023 while the cumulative index for the green fuel increased by 6.1 per cent during 2023-24 over the corresponding period of the previous year.
Petroleum Refinery production increased by 3.9 per cent in April while its cumulative index increased by 3.6 per cent during 2023-24 over the corresponding period of the previous year.
Fertilizer production declined by 0.8 per cent in April while its cumulative index increased by 3.7 per cent during 2023-24 over the corresponding period of the previous year.
The combined cumulative growth rate of the eight core industries during 2023-24 works out to 7.6 per cent (provisional) as compared to the corresponding period of last year.
The cumulative growth rate of the index of the eight core industries for the full year 2023-24 now works out to 7.6 per cent as compared to the previous year.
These core industries comprise 40.27 per cent of the weight of items included in the Index of Industrial Production (IIP) and give a pointer to the overall industrial growth rate.
MENAFN31052024000231011071ID1108281290
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.