Output of 8 core industries rises 5.4% in November
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The output of eight core industries rose by 5.4 per cent in November 2022 against 3.2 per cent in November 2021 as production of commodities like steel, cement, coal and ferlilisers as well as electricity increased compared to the corresponding period of last year.
In November 2022, coal production with a weightage of 10.33 per cent, grew by 12.3 per cent over corresponding period. From April to November 2022, compared to the same period the year before, its cumulative index rose by 17.2 per cent.
However crude oil output, which has a weightage of 8.98 per cent in the index, fell by 1.1 per cent in November 2022 as compared to corresponding period of last year.
In the April-November 2022 period, crude oil output had a 1.4 per cent fall in cumulative index compared to corresponding period of last year.
With a weightage of 6.88 per cent, natural gas output slid 0.7 per cent in November 2022 compared to corresponding period of last year. In the April-November 2022 period, it rose by a marginal 0.7 per cent in cumulative index compared to the corresponding period of last year.
The output of 8 core industries coal, crude oil, natural gas, refinery products, fertiliser, steel, cement, and electricity are tracked by Index of Eight Core Industries (ICI). The weightage of the items in the Index of Industrial Production (IIP) is made up of the eight core industries in a percentage of 40.27.
