Image Source : REPRESENTATIONAL PIC A remarkable growth in the infrastructure sector
The combined Index of Eight Core Industries (ICI) increased by 7.4 per cent (provisional) in December 2022 as compared to the Index of December 2021, according to government data released on Tuesday.
The production of coal, electricity, steel, cement, fertilizers, refinery products and natural gas increased in December 2022 over the corresponding month of last year.
ICI measures the combined and individual performance of the production of eight core industries viz. coal, crude oil, natural gas, refinery products, fertilizers, steel, cement and electricity.
Details of annual and monthly indices and growth rates are provided at Annex I & II respectively.
Final growth rate of Index of eight core industries for September 2022 is revised to 8.3 per cent from its provisional level 7.9 per cent. The cumulative growth rate of ICI during April-December 2022 was 8.0 per cent (provisional) as compared to the corresponding period of last year.
Index of Eight Core Industries:
Coal – Coal production (weight: 10.33 per cent) increased by 11.5 per cent in December 2022 over December 2021. Its cumulative index increased by 16.4 per cent during April to December 2022 over the corresponding period of the previous year.
Crude Oil – Crude Oil production (weight: 8.98 per cent) declined by 1.2 per cent in December 2022 over December 2021. Its cumulative index declined by 1.3 per cent during April to December 2022 over the corresponding period of the previous year.
Natural Gas – Natural Gas production (weight: 6.88 per cent) increased by 2.6 per cent in December 2022 over December 2021. Its cumulative index increased by 0.9 per cent during April to December 2022 over the corresponding period of the previous year.
Petroleum Refinery Products – Petroleum Refinery production (weight: 28.04 per cent) increased by 3.7 per cent in December 2022 over December 2021. Its cumulative index increased by 5.5 per cent during April to December 2022 over the corresponding period of the previous year.
Fertilizers – Fertilizers production (weight: 2.63 per cent) increased by 7.3 per cent in December 2022 over December 2021. Its cumulative index increased by 9.6 per cent during April to December 2022 over the corresponding period of the previous year.
Steel – Steel production (weight: 17.92 per cent) increased by 9.2 per cent in December 2022 over December 2021. Its cumulative index increased by 7.7 per cent during April to December 2022 over the corresponding period of the previous year.
Cement – Cement production (weight: 5.37 per cent) increased by 9.1 per cent in December 2022 over December 2021. Its cumulative index increased by 10.6 per cent during April to December 2022 over the corresponding period of the previous year.
Electricity – Electricity generation (weight: 19.85 per cent) increased by 10.0 per cent in December 2022 over December 2021. Its cumulative index increased by 9.8 per cent during April to December 2022 over the corresponding period of the previous year.
Also read: Economic Survey 2023 key highlights: Borrowing rate stays high, GDP to grow at 6-6.8%
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