Production of Electricity, Natural Gas, Coal, Steel, Refinery Products, Crude Oil and Cement record positive growth in April 2024
FinTech BizNews Service
Mumbai, May 31, 2024: The combined Index of Eight Core Industries (ICI) increased by 6.2 per cent (provisional) in April, 2024 as compared to the Index in April, 2023. The production of Electricity, Natural Gas, Coal, Steel, Refinery Products, Crude Oil and Cement recorded positive growth in April 2024. The details of annual indices, monthly indices and growth rates are provided at Annex I and Annex II.
The ICI measures the combined and individual performance of production of eight core industries viz. Cement, Coal, Crude Oil, Electricity, Fertilizers, Natural Gas, Refinery Products and Steel. The Eight Core Industries comprise 40.27 percent of the weight of items included in the Index of Industrial Production (IIP).
The final growth rate of the Index of Eight Core Industries for January 2024 is revised to 4.1 per cent. The cumulative growth rate of ICI during 2023-24 reported 7.6 per cent (provisional) as compared to the corresponding period of last year.
The summary of the Index of Eight Core Industries is given below:
Cement - Cement production (weight: 5.37 per cent) increased by 0.6 per cent in April, 2024 over April, 2023. Its cumulative index increased by 9.0 per cent during 2023-24 over corresponding period of the previous year.
Coal - Coal production (weight: 10.33 per cent) increased by 7.5 per cent in April, 2024 over April, 2023. Its cumulative index increased by 11.8 per cent during 2023-24 over corresponding period of the previous year.
Crude Oil - Crude Oil production (weight: 8.98 per cent) increased by 1.6 per cent in April, 2024 over April, 2023. Its cumulative index increased by 0.6 per cent during 2023-24 over corresponding period of the previous year.
Electricity - Electricity generation (weight: 19.85 per cent) increased by 9.4 per cent in April, 2024 over April, 2023. Its cumulative index increased by 7.1 per cent during 2023-24 over corresponding period of the previous year.
Fertilizers - Fertilizer production (weight: 2.63 per cent) declined by 0.8 per cent in April 2024 over April, 2023. Its cumulative index increased by 3.7 per cent during 2023-24 over corresponding period of the previous year.
Natural Gas - Natural Gas production (weight: 6.88 per cent) increased by 8.6 per cent in April, 2024 over April, 2023. Its cumulative index increased by 6.1 per cent during 2023-24 over corresponding period of the previous year.
Petroleum Refinery Products - Petroleum Refinery production (weight: 28.04 per cent) increased by 3.9 per cent in April, 2024 over April, 2023. Its cumulative index increased by 3.6 per cent during 2023-24 over corresponding period of the previous year.
Steel - Steel production (weight: 17.92 per cent) increased by 7.1 per cent in April, 2024 over April, 2023. Its cumulative index increased by 12.4 per cent during 2023-24 over corresponding period of the previous year.
