Output of eight core industries registers growth of 5.2% in March 2024
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The output of eight core industries posted a growth of 5.2 percent in March 2024 as the production of cement, coal, electricity, natural gas, steel and crude oil recorded positive growth in the same month. The output of core sectors had grown by 7.1 per cent in February 2024 and 4.1 per cent in January 2024, while it stood 4.2 per cent in March 2023. The Eight Core Industries - coal, crude oil, natural gas, refinery products, fertilizers, steel, cement and electricity - comprise 40.27 per cent of the weight of items included in the Index of Industrial Production (IIP).
Cement production, having 5.37 per cent weight increased by 10.6 per cent in March, 2024 over March, 2023, and its cumulative index increased by 9.1 per cent during 2023-24 over corresponding period of the previous year. Coal production, having 10.33 per cent weight increased by 8.7 per cent in March, 2024 over March, 2023 and its cumulative index increased by 11.7 per cent during 2023-24 over corresponding period of the previous year. Crude oil production, having 8.98 per cent increased by 2.0 per cent in March, 2024 over March, 2023 and its cumulative index increased by 0.6 per cent during 2023-24 over corresponding period of the previous year.
Electricity generation, having 19.85 per cent weight increased by 8.0 per cent in March, 2024 over March, 2023 and its cumulative index increased by 7.0 per cent during 2023-24 over corresponding period of the previous year. Natural Gas production, having 6.88 per cent increased by 6.3 per cent in March, 2024 over March, 2023 and its cumulative index increased by 6.1 per cent during 2023-24 over corresponding period of the previous year. Steel production, having 17.92 per cent weight increased by 5.5 per cent in March, 2024 over March, 2023 and its cumulative index increased by 12.3 per cent during 2023-24 over corresponding period of the previous year.
However, petroleum Refinery production, having 28.04 per cent weight declined by 0.3 per cent in March, 2024 over March, 2023, while its cumulative index increased by 3.4 per cent during 2023-24 over corresponding period of the previous year. Fertilizers production, having 2.63 per cent weight declined by 1.3 per cent in March 2024 over March, 2023, while its cumulative index increased by 3.7 per cent during 2023-24 over corresponding period of the previous year.
