Core sector industrial production slows to 6% in February
04 Apr 2023
Core sector industrial production in India, based on the combined Index of Eight Core Industries (ICI) recorded a growth of 6 per cent in February 2023, the slowest in the past three months, provisional figures released by the commerce ministry showed.
The decline in the growth rate was due mainly to a dip in the production of crude oil, although production of fertilisers, coal, electricity, cement, steel, refinery products and natural gas increased in February 2023 compared to the corresponding month of last year.
The eight core sector industries, comprising coal, crude oil, natural gas, refinery products, fertilizers, steel, cement and electricity, having a combined weight of 40.27 per cent in the Index of Industrial Production (IIP), recorded a growth of 7.8 per cent in April-February 2022-23, provisional data showed.
Final growth rate of Index of Eight Core Industries for November 2022 now stands revised to 5.7 per cent from its provisional level 5.4 per cent.
Production of coal, having a weight of 10.33 per cent in IIP, increased by 8.5 per cent in February 2023, while its cumulative production increased by 15.2 per cent year-on-year during April-February 2022-23.
Production of crude oil (weight of 8.98 per cent in IIP) declined by 4.9 per cent in February 2023, while cumulative production of crude oil declined by 1.6 per cent during April-February 2022-23.
Production of natural gas (weight of 6.88 per cent in IIP) increased by 3.2 per cent in February 2023, while cumulative production of natural gas increased by 1.5 per cent during April-February 2022-23.
Petroleum refinery production (weight of 28.04 per cent in IIP) increased by 3.3 per cent in February 2023 while cumulative refinery throughput increased by 5.2 per cent during April-February 2022-23.
Fertiliser production (weight of 2.63 per cent in IIP) increased by 22.2 per cent in February 2023, while cumulative production of fertilisers increased by 11.5 per cent during April-February 2022-23.
Steel production (weight of 17.92 per cent in IIP) increased by 6.9 per cent in February 2023, while cumulative steel production increased by 7.5 per cent during April-February 2022-23.
Cement production (weight of 5.37 per cent in IIP) increased by 7.3 per cent in February 2023, while cumulative cement production increased by 9.7 per cent during April-February 2022-23.
Electricity generation (weight of 19.85 per cent in IIP) increased by 7.6 per cent in February 2023, while cumulative generation of electricity increased by 9.9 per cent during April-February 2022-23.