Team News Riveting
New Delhi, April 28
The combined Index of Eight Core Industries (ICI) increased by 3.6 per cent (provisional) in March 2023 as compared to the Index of March 2022.
The production of Coal, Fertilizers, Steel, Natural Gas and Refinery Products increased in March 2023 over the corresponding month of last year. ICI measures combined and individual performance of production of eight core industries viz. Coal, Crude Oil, Natural Gas, Refinery Products, Fertilizers, Steel, Cement and Electricity.
The Eight Core Industries comprise 40.27 percent of the weight of items included in the Index of Industrial Production (IIP). 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 December 2022 is revised to 8.3 per cent from its provisional level 7.4 per cent. The cumulative growth rate of ICI during 2022-23 reported 7.6 per cent (provisional) as compared to the corresponding period of last year.
The summary of the Index of Eight Core Industries is given below:
Coal – Coal production (weight: 10.33 per cent) increased by 12.2 per cent in March, 2023 over March, 2022. Its cumulative index increased by 14.8 per cent during 2022-23 over corresponding period of the previous year.
Crude Oil – Crude Oil production (weight: 8.98 per cent) declined by 2.8 per cent in March, 2023 over March, 2022. Its cumulative index declined by 1.7 per cent during 2022-23 over the corresponding period of previous year.
Natural Gas – Natural Gas production (weight: 6.88 per cent) increased by 2.8 per cent in March, 2023 over March, 2022. Its cumulative index increased by 1.6 per cent during 2022-23 over the corresponding period of previous year.
Petroleum Refinery Products – Petroleum Refinery production (weight: 28.04 per cent) increased by 1.5 per cent in March, 2023 over March, 2022. Its cumulative index increased by 4.8 per cent during 2022-23 over the corresponding period of previous year.
Fertilizers – Fertilizers production (weight: 2.63 per cent) increased by 9.7 per cent in March, 2023 over March, 2022. Its cumulative index increased by 11.3 per cent during 2022-23 over the corresponding period of previous year.
Steel – Steel production (weight: 17.92 per cent) increased by 8.8 per cent in March, 2023 over March, 2022. Its cumulative index increased by 8.6 per cent during 2022-23 over the corresponding period of previous year.
Cement – Cement production (weight: 5.37 per cent) declined by 0.8 per cent in March, 2023 over March, 2022. Its cumulative index increased by 8.6 per cent during 2022-23 over the corresponding period of previous year.
Electricity – Electricity generation (weight: 19.85 per cent) declined by 1.8 per cent in March, 2023 over March, 2022. Its cumulative index increased by 8.9 per cent during 2022-23 over the corresponding period of previous year.
