Core industries production index up by 5.4% in Nov 2022 against last year

New Delhi, Dec 31 (KNN) The combined Index of Eight Core Industries increased by 5.4 per cent (provisional) in November 2022 as compared to the Index of November 2021, said the Ministry of Commerce & Industry on Friday.

The production of Cement, Coal, Electricity, Steel and Fertilizers increased in November 2022 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).

Final growth rate of Index of Eight Core Industries 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.

Coal production (weight: 10.33 per cent) increased by 12.3 per cent and Crude Oil production (weight: 8.98 per cent) declined by 1.1 per cent in November, 2022 over November, 2021.

Natural Gas production (weight: 6.88 per cent) declined by 0.7 per cent and Petroleum Refinery production (weight: 28.04 per cent) declined by 9.3 per cent in the given period.

Whereas Fertilizers production (weight: 2.63 per cent) increased by 6.4 per cent and Steel production (weight: 17.92 per cent) also increased by 10.8 per cent in November, 2022 over November, 2021.

In view of Cement production (weight: 5.37 per cent) it hiked by 28.6 per cent and Electricity generation (weight: 19.85 per cent) increased by 12.1 per cent in November, 2022 over November, 2021. (KNN Bureau)