The eight core industries, that include coal, cement, steel, and electricity, have seen a 6.2 percent rise in April this year compared to April of the previous year, according to the data released by the Commerce and Industry Ministry on Friday.
Electricity generation rose 9.4 percent in April year-on-year. The cumulative index of electricity for the fiscal year 2023-24, until March 31, rose 7.1 percent over the corresponding period of the previous year.
Steel generation had increased, with a 7.1 percent increase in the month of April. Its cumulative index demonstrated a strong 12.4 percent growth for the fiscal year 2023-24 compared to the prior year.
Coal production increased by 7.5 percent in April and its cumulative index increased by 11.8 percent during the financial year 2023-24 over the corresponding period of last FY.
Natural gas production increased by 8.6 percent in April 2024 over April 2023. The cumulative index of natural gas increased by 6.1 percent in the financial year 2023-24 over the same period last year.
Production of petroleum products increased by 3.9 percent in April, while the cumulative index increased by 3.6 percent in the financial year 2023-24 over the same period last year.
Fertilizer production, however, declined by 0.8 percent in April, but its cumulative index increased by 3.7 percent in the financial year 2023-24 over the same period last year.
The combined growth rate of eight core industries in the financial year 2023-24 is provisionally estimated at 7.6 percent, over the corresponding period of last FY.
These industries have a weightage of 40.27 percent in the overall Index of Industrial Production (IIP), thereby providing a first estimate about the general industrial growth rate.
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