Powered by: Motilal Oswal
06-01-2022 10:57 AM | Source: Accord Fintech
Output of eight core sectors grow by 8.4% in April

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The growth of eight core infrastructure industries grew by 8.4 per cent in April 2022 as against 62.6 per cent expansion in the year-ago period, on the back of better performance by coal, refinery products and electricity segments. The growth in these eight sectors was 62.6 per cent in April last year due to a low base effect caused by pandemic-induced lockdowns. The Eight Core Industries - coal, crude oil, natural gas, refinery products, fertilizers, steel, cement and electricity - comprise 40.27 percent of the weight of items included in the Index of Industrial Production (IIP).

Coal production having 10.33 per cent weight increased by 28.8 per cent in April, 2022 over April, 2021 and its cumulative index increased by 8.5per cent during April to March, 2021-22 over corresponding period of the previous year. Natural Gas production having 6.88 per cent weight increased by 6.4 per cent in April, 2022 over April, 2021 and its cumulative index increased by 19.2 per cent during April to March, 2021-22 over the corresponding period of previous year. Petroleum Refinery production having 28.04 per cent weight increased by 9.2 per cent in April, 2022 over April, 2021 and its cumulative index increased by 8.9 per cent during April to March, 2021-22over the corresponding period of previous year.

Fertilizers production having 2.63 per cent weight increased by8.7 per cent in April, 2022 over April, 2021 and ts cumulative index increased by 0.7 per cent during April to March, 2021-22 over the corresponding period of previous year. Cement production having 5.37 per cent weight increased by 8.0 per cent in April, 2022 over April, 2021 and its cumulative index increased by 20.8 per cent during April to March, 2021-22 over the corresponding period of previous year. Electricity generation having 19.85 per cent weight increased by 10.7per cent in April, 2022 over April, 2021 and its cumulative index increased by 8.0 per cent during April to March, 2021-22 over the corresponding period of previous year.

On the flip side, Crude Oil production having 8.98 per cent weight declined by 0.9 per cent in April, 2022 over April, 2021 and its cumulative index declined by 2.6 per cent during April to March, 2021-22over the corresponding period of previous year. Steel production having 17.92 per cent weight declined by 0.7 per cent in April, 2022 over April, 2021, while its cumulative index increased by 17.1 per cent during April to March, 2021-22 over the corresponding period of previous year.