Core sector output up 7.4% in Dec 2022
1 min read . Updated: 31 Jan 2023, 06:39 PM IST
Premium- The core sector growth is also higher as compared to the previous month, November 2022, when it stood at 5.4%
NEW DELHI : India’s eight core infrastructure sectors grew by 7.4% in December 2022, as against a growth of 3.8% recorded in the year-ago period, as per the provisional data released by the Ministry of Commerce & Industry on Tuesday.
The core sector growth is also higher as compared to the previous month, November 2022, when it stood at 5.4%.
The growth rate of eight infrastructure sectors — coal, crude oil, natural gas, refinery products, fertilisers, steel, cement and electricity — stood at 8% in April-December this fiscal as against 12.6% during the same period last fiscal.
“Final growth rate of Index of Eight Core Industries for September 2022 is revised to 8.3 per cent from its provisional level 7.9 per cent. The cumulative growth rate of ICI during April-December 2022 was 8.0 per cent (provisional) as compared to the corresponding period of last year,“ the commerce and industry industry said in a statement.
According to the data, production of coal rose by 11.5%, electricity by 10%, steel by 9.2%, cement by 9.1%, and fertilisers by 7.3% in December.
Among the remaining three core sectors, the output of crude oil segment declined by 1.2%, whereas, natural gas and petroleum refinery products recorded a relatively smaller growth of 2.6 and 3.7%, respectively.
Core sector or key infrastructure industries, which have a 40.27 percent weight in the overall index of industrial production (IIP), also have a bearing on industrial production data.
