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DAILY NEWS ANALYSIS

  • 01 January, 2022

  • 2 Min Read

Index of core industries

Index of eight core industries

  • The eight core sector industries include coal, crude oil, natural gas, refinery products, fertiliser, steel, cement and electricity.
  • The eight Core Industries in decreasing order of their weightage: Refinery Products> Electricity> Steel> Coal> Crude Oil> Natural Gas> Cement> Fertilizers.

Industry

Weight (In percentage)

Petroleum & Refinery production

28.04

Electricity generation

19.85

Steel production

17.92

Coal production

10.33

Crude Oil production

8.98

Natural Gas production

6.88

Cement production

5.37

Fertilizers production

2.63

  • The eight core industries comprise 40.27% of the weight of items included in the Index of Industrial Production (IIP).

Index of Industrial Production (IIP)

  • The Index of Industrial Production (IIP) is an index which details out the growth of various sectors in an economy such as mineral mining, electricity, manufacturing, etc.
  • It is compiled and published monthly by the Central Statistical Organisation (CSO), Ministry of Statistics and Programme Implementation six weeks after the reference month ends, i.e a lag of six weeks.
  • The Base Year of the Index of Eight Core Industries has been revised from the year 2004-05 to 2011-12 from April, 2017.
  • The combined Index of Eight Core Industries stood at 125.8 in May 2021, which increased by 16.8 per cent (provisional) as compared to the Index of May 2020.
  • The production of Coal, Natural Gas, Refinery Products, Steel, Cement and Electricityindustries increased in May 2021 over the corresponding period of last year.

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

  • Coal – Coal production (weight: 10.33 per cent) increased by 6.9 per cent in May, 2021 over May, 2020.
  • Crude Oil – Crude Oil production (weight: 8.98 per cent) declined by 6.3 per cent in May, 2021 over May, 2020.
  • Natural Gas - Natural Gas production (weight: 6.88 per cent) increased by 20.1 per cent in May, 2021 over May, 2020.
  • Petroleum Refinery production (weight: 28.04 per cent) increased by 15.3 per cent in May, 2021 over May, 2020. corresponding period of previous year.
  • Fertilizers – Fertilizers production (weight: 2.63 per cent) decreased by 9.6 per cent in May, 2021 over May, 2020.
  • Steel – Steel production (weight: 17.92 per cent) increased by 59.3 per cent in May 2021 over May 2020.
  • Cement – Cement production (weight: 5.37 per cent) increased by 7.9 per cent in May 2021 over May 2020.
  • Electricity – Electricity generation (weight: 19.85 per cent) increased by 7.3 per cent in May, 2021 over May, 2020.

Source: PIB


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