The production of eight infrastructure sectors in March jumped 4.3 per cent year-on-year as compared with a growth of 5.8 per cent y-o-y reported in February, on account of performance by natural gas, petroleum refinery and cement industries.
“The combined Index of Eight Core Industries stood at 157.3 in March 2022, which increased by 4.3 per cent (provisional) as compared to the Index of March 2021. Final growth rate of Index of Eight Core Industries for December 2021 is revised to 4.1 per cent from its provisional level 3.8 per cent,” according to an official statement.
Among the eight core sectors (natural gas, petroleum refinery, steel, crude oil, fertiliser, coal, cement and electricity), coal and crude oil witnessed a decline in production with negative growths of 0.1 per cent and 3.4 per cent, respectively in March as compared to the previous year, showed official data released on Friday.
The eight core industries comprise 40.27 percent of the weight of items included in the Index of Industrial Production (IIP).
Natural gas, petroleum refinery, steel, fertiliser, cement and electricity sectors registered growth in the range of 3.7-15.3 per cent. The fertiliser industry posted the highest growth at 15.3 per cent year-on-year in March 2022, followed by cement (8.8 per cent), natural gas (7.6 per cent), petroleum refinery products (6.2 per cent), electricity (4.9 per cent) and steel (3.7 per cent).
For the financial year 2021-22, the cumulative growth rate of the Index of Eight Core Industries (ICI) was 10.4 per cent (provisional) as compared to the corresponding period of the previous financial year, according to the latest data.
Sector-Wise Production Growth Data
Coal production, having a weightage of 10.33 per cent in the Index, fell 0.1 per cent in March 2022 over the corresponding month last year. “Its cumulative index increased by 8.5 per cent during April to March, 2021-22 over corresponding period of the previous year.”
Crude oil production, which has a weightage of 8.98 per cent in the index, declined by 3.4 per cent in March 2022 over March 2021. “Its cumulative index declined by 2.6 per cent during April to March 2021-22 over the corresponding period of the previous year.”
Natural Gas production, having a weightage of 6.88 per cent, increased 7.6 per cent in March 2022 over March 2021. “Its cumulative index increased by 19.2 per cent during April to March, 2021-22 over the corresponding period of previous year.”
Petroleum refinery production, with a weightage of 28.04 per cent, increased 6.2 per cent in March 2022 over March 2021. “Its cumulative index increased by 8.9 per cent during April to March 2021-22 over the corresponding period of previous year.”
Fertiliser production, having a weightage of 2.63 per cent, increased by 15.3 per cent in March 2022 over March 2021. “Its cumulative index increased by 0.7 per cent during April to March, 2021-22 over the corresponding period of the previous year.”
Steel production, having a weightage of 17.92 per cent, increased by 3.7 per cent in March 2022 over March 2021. “Its cumulative index increased by 16.9 per cent during April to March, 2021-22 over the corresponding period of previous year.”
Cement production, with a weightage of 5.37 per cent, increased by 8.8 per cent in March 2022 over March 2021. “Its cumulative index increased by 20.8 per cent during April to March, 2021-22 over the corresponding period of previous year.”
Electricity generation, which has a weightage of 19.85 per cent, increased 4.9 per cent in March 2022 over March 2021. “Its cumulative index increased by 7.8 per cent during April to March, 2021-22 over the corresponding period of previous year.”
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