Eight core industries see output rise 2.2% in January

Eight core industries grew by 2.2 per cent on annual basis during January, showed government data released on Friday. The rise in production for core sectors came on the back of expansion in coal, steel, cement and refinery products sectors.

"The combined Index of Eight Core Industries stood at 137.5 in January, 2020, which increased by 2.2 per cent as compared to the index of January, 2019. Its cumulative growth during April, 2019 to January, 2020 was 0.6 per cent," Ministry of Commerce and Industry said in a statement.

The eight core industries, including coal, crude oil, natural gas, refinery products, fertilisers, steel, cement and electricity, comprise 40.27 per cent of the weight of items included in the Index of Industrial Production (IIP).

"Robust growth in eight core industries index in December 19 and January 20 bodes well for the manufacturing sector," said Economic Affairs Secretary Atanu Chakraborty. The core sectors had recovered from negative growth in December 2019 after four months of decline.

Coal

Coal production increased 8 per cent in January 2020 over January 2019. Its cumulative index declined by 2.4 per cent during April to January, 2019-20 over corresponding period of the previous year.

Crude Oil

Crude Oil production declined 5.3 per cent year-on-year in January 2020. Its cumulative index declined 6 per cent during April to January, 2019-20 over the year ago period.

Natural Gas

Natural Gas production fell 9.1 per cent in January, 2020 over January 2019. Its cumulative index declined by 4.3 per cent on annual basis during April to January, 2019-20.

Refinery Products

Petroleum Refinery production increased by 1.9 per cent year-on-year in January 2020 over January 2019. Its cumulative index during April to January, 2019-20 declined by 0.4 per cent.

Fertilisers

Production of fertilisers declined 0.1 per cent in January 2020 over the year ago period. However, its cumulative index increased by 4.2 per cent year-on-year during April to January, 2019-20.

Steel

Steel production rose 2.2 per cent in January 2020 over January 2019. Its cumulative index increased by 5.3 per cent during April to January, 2019-20 over the corresponding period of previous year.

Cement

Cement production annually increased 5 per cent in January this year. Its cumulative index increased 1.1 per cent during April to January, 2019-20 over the corresponding period of previous year.

Electricity

Electricity generation increased 2.8 per cent in January, 2020 over January 2019. Its cumulative index increased by 0.9 per cent during April to January, 2019-20 over the corresponding period of previous year.

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