Combined Index of Eight Core Industries rises by 5.4%

Final growth rate of Index of Eight Core Industries for August 2022 is revised to 4.2% from its provisional level 3.3%

GN Bureau | December 30, 2022


#Economy   #industry   #energy  


The combined Index of Eight Core Industries (‘ICI’) increased by 5.4% (provisional) in November 2022 as compared to November 2021. The production of cement, coal, electricity, steel and fertilizers increased in November 2022 over the corresponding month of last year, an official release said Friday.

ICI (base year: 2022-12 = 100) measures combined and individual performance of production of eight core industries – coal, crude oil, natural gas, refinery products, fertilizers, steel, cement and electricity. These eight core industries comprise 40.27% of the weight of items included in the Index of Industrial Production (IIP).

Meanwhile, the final growth rate of ICI for August 2022 is revised to 4.2% from its provisional level 3.3%. The cumulative growth rate of ICI during April-November 2022 was 8.0% (provisional) as compared to the corresponding period of last year.

The summary of the Index of Eight Core Industries:

Coal:
Coal production (weight: 10.33%) increased by 12.3% in November 2022 over November 2021. Its cumulative index increased by 17.2% during April to November 2022 over corresponding period of the previous year.

Crude Oil:
Crude Oil production (weight: 8.98%) declined by 1.1% in November 2022 over November 2021. Its cumulative index declined by 1.4% during April-November 2022 over the corresponding period of previous year.

Natural Gas:
Natural Gas production (weight: 6.88%) declined by 0.7% in November 2022 over November 2021. Its cumulative index increased by 0.7% during April-November 2022 over the corresponding period of previous year.

Petroleum Refinery Products:
Petroleum Refinery production (weight: 28.04%) declined by 9.3% in November 2022 over November 2021. Its cumulative index increased by 5.7% during April-November 2022 over the corresponding period of previous year.

Fertilizers:
Fertilizers production (weight: 2.63%) increased by 6.4% in November 2022 over November 2021. Its cumulative index increased by 10.0% during April-November 2022 over the corresponding period of previous year.

Steel:
Steel production (weight: 17.92%) increased by 10.8% in November 2022 over November 2021. Its cumulative index increased by 7.1% during April-November 2022 over the corresponding period of previous year.

Cement:
Cement production (weight: 5.37%) increased by 28.6% in November 2022 over November 2021. Its cumulative index increased by 10.8% during April-November 2022 over the corresponding period of previous year.

Electricity:
Electricity generation (weight: 19.85%) increased by 12.1% in November 2022 over November 2021. Its cumulative index increased by 9.7% during April-November 2022 over the corresponding period of previous year.

* Data for September 2022, October 2022 and November 2022 are provisional. Index numbers of Core Industries are revised /finalized as per updated data from source agencies.

* Since April 2014, Electricity generation data from Renewable sources are also included.

* The industry-wise weights indicated above are individual industry weight derived from IIP and blown up on pro rata basis to a combined weight of ICI equal to 100.

* Since March 2019, a new steel product called Hot Rolled Pickled and Oiled (HRPO) under the item ‘Cold Rolled (CR) coils’ within the production of finished steel has also been included.

* Figures for December 2022 will be on released on January 31, 2023.

 

Comments

 

Other News

‘MAGA’ + ‘MIGA’ = ‘MEGA’ partnership for prosperity: Modi

Prime minister Narendra Modi has linked the dream of a Viksit Bharat with US president Donald Trump’s slogan, ‘Make America Great Again’, or ‘MAGA’, saying that when these two democracies work together, i.e. ‘MAGA’ plus ‘Make India Great Again’ (‘

ONOE: Anti-federalism or pro-reform?

The government`s move to implement ‘One Nation, One Election’ (ONOE) has ignited widespread debate. On one hand, it offers tangible benefits, such as removing the possibility of a governance paralysis and reducing election costs. On the other hand, the opposition and sections of civil society s

PM Surya Ghar: Muft Bijli Yojana completes first year

On February 13, 2025, the PM Surya Ghar: Muft Bijli Yojana (PMSGMBY) will mark its first anniversary, celebrating a year of empowering households with affordable solar energy and accelerating India’s transition to a sustainable future. Launched by prime minister Narendra Modi on Febru

How to leverage AI to solve urgent global issues

The world seems to be hurling towards World War III in all the possible scenarios: hot war, cold war, and proxy war. The battleground seems to have expanded beyond physical to digital or virtual/mixed reality with technology like drones. Moreover, the line between civilian and military targets seems to hav

Budget: Progress towards SDGs and areas for improvement

The Union Budget 2025-26 outlines India`s vision for economic and social growth while also reflecting the country`s commitment to sustainable development. As India moves closer to the 2030 deadline for the United Nations’ Sustainable Development Goals (SDGs), this budget presents a balanced approach

Repo rate cut by 25 basis points to 6.25%

The Reserve Bank of India has, for the first time in five years, reduced the policy repo rate under the liquidity adjustment facility (LAF) by 25 basis points to 6.25% with immediate effect. Consequently, the standing deposit facility (SDF) rate will stand adjusted to 6.00% and the marginal

Visionary Talk: Amitabh Gupta, Pune Police Commissioner with Kailashnath Adhikari, MD, Governance Now



Archives

Current Issue

Opinion

Facebook Twitter Google Plus Linkedin Subscribe Newsletter

Twitter