Eight Core Industries increases by 5.8% to 137.1 in February 2022

1 Apr 2022 , 09:46 AM

The core sector growth firmed up to a four-month high of 5.8% in February 2022, led by refinery products, steel and electricity.

The combined Index of Eight Core Industries stood at 137.1 in February 2022, which increased by 5.8 per cent (provisional) as compared to the Index of February 2021.

The production of Coal, Natural Gas, Refinery Products, Steel, Cement and Electricity industries increased in February 2022 over the corresponding period of last year, as per Ministry of Commerce & Industry data released on Thursday.

The final growth rate of the Index of Eight Core Industries for November 2021 has been revised to 3.2% from its provisional level 3.1%. The cumulative growth rate of ICI during April-February 2021-22 was 11.0% (P) as compared to the corresponding period of last FY.

The summary of the Index of Eight Core Industries is given below:

Coal —Coal production (weight: 10.33 per cent) increased by 6.6 per cent in February, 2022 over February, 2021. Its cumulative index increased by 9.8 per cent during April to February, 2021-22 over corresponding period of the previous year.

Crude Oil—Crude Oil production (weight: 8.98 per cent) declined by 2.2 per cent in February, 2022 over February, 2021. Its cumulative index declined by 2.6 per cent during April to February, 2021-22 over the corresponding period of previous year.

Natural Gas – Natural Gas production (weight: 6.88 per cent) increased by 12.5 per cent in February, 2022 over February, 2021. Its cumulative index increased by 20.5 per cent during April to February 2021-22 over the corresponding period of the previous year.

Petroleum Refinery Products—Petroleum Refinery production (weight: 28.04 per cent) increased by 8.8 per cent in February, 2022 over February, 2021. Its cumulative index increased by 9.2 per cent from April to February, 2021-22over the corresponding period of previous year.

Fertilizers —Fertilizers production (weight: 2.63 per cent) declined by 1.4 per cent in February, 2022 over February, 2021. Its cumulative index decreased by 0.4 per cent during April to February 2021-22 over the corresponding period of the previous year.

Steel —Steel production (weight: 17.92 per cent) increased by 5.7 per cent in February, 2022 over February, 2021. Its cumulative index increased by 18.4 per cent during April to February, 2021-22 over the corresponding period of the previous year.

Cement —Cement production (weight: 5.37 per cent) increased by 5.0 per cent in February, 2022 over February, 2021. Its cumulative index increased by 22.4 per cent during April to February 2021-22 over the corresponding period of the previous year.

Electricity —Electricity generation (weight: 19.85 per cent) increased by 4.0 per cent in February, 2022 over February, 2021. Its cumulative index increased by 8.1 per cent during April to February 2021-22 over the corresponding period of the previous year.