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Eight core industries grow at 3.7% in January

For the nine-month period between April and January, the core industries growth rate was recorded as 11.6 percent, the government said. In December 2021, the eight core sectors had grown by 4.1 percent.

February 28, 2022 / 06:13 PM IST
Representative image (Source: Reuters)

Representative image (Source: Reuters)

The growth rate of eight core industries came in at 3.7 percent in January 2022, as compared to the same period last year, the Ministry of Commerce said on February 28.

For the nine-month period between April and January, the core industries growth rate was recorded as 11.6 percent, the ministry said. In December 2021, the eight core sectors - coal, natural gas, crude oil, petroleum refinery products, fertilisers, steel, cement and electricity - had grown by 4.1 percent.

Among them, "the production of coal, natural gas, refinery products, steel, cement and electricity industries increased in January 2022 over the corresponding period of last year", an official statement noted.

"The combined Index of Eight Core Industries stood at 144.4 in January 2022, which increased by 3.7 per cent as compared to the Index of January 2021," it said.

Also Read | GDP growth slowed to 5.4% in Oct-Dec 2021, FY22 growth estimated at 8.9%

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Coal production grew by 8.2 percent in January 2022, and its cumulative index increased by 10.3 percent during April to January over corresponding period of the previous year, the statement said.

Petroleum refinery production climbed by 3.7 per cent in the past month, and its cumulative index increased by 9.3 percent during April-January period.

Steel production increased by 2.8 per cent in January 2022, and its cumulative index rose by 19.9 percent from April to January.

Cement production increased by 13.6 percent last month, whereas, its cumulative index surged by 24.6 percent in the nine-month period ending January 2022.

Electricity generation grew by 0.5 percent in the past month, and its cumulative index increased by 8.5 percent in the April-January period.

Crude oil production, however, took a hit as it declined by 2.4 percent last month, and its cumulative index dropped by 2.6 percent in the nine-month period ending January 2022.



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Moneycontrol News
first published: Feb 28, 2022 05:39 pm
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