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Core industry index shows positive growth in Dec
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SME Times News Bureau | 02 Feb, 2016
The industrial output index for India's eight core industries registered
a rise in December, pushed up by higher coal, refinery products,
fertilizers, cement and electricity output.
The index representing major infrastructure sectors had recorded a fall in November 2015.
The
index showed a rise of 0.9 percent in December 2015 on a month-on-month
basis, compared to the 1.3 percent decline in November, official data
showed on Monday.
The core industries grew 3.2 percent in October last year.
However
the select factory output index for December is less than the growth of
3.2 percent achieved during the corresponding month in 2014, a commerce
ministry release said.
This index comprises 38 percent of the total weightage of items included in the Index of Industrial Production (IIP).
Its
cumulative growth from April to December 2015-16 stood at 1.9 percent,
as compared to 5.7 percent during the corresponding period of 2014-15.
Out
of the eight core industries, fertilizers and coal reported healthy
output numbers. However, production of oil, natural gas, and steel
dwindled in the period under review.
Electricity recorded 2.7
percent change in December 2015 as compared with 4.8 percent in December
2014. Its cumulative index during April to December 2015-16 decreased
by six percent over the corresponding period of previous year.
Distilling of refinery products, the third most important component as per weightage, increased by 2.1 percent in December.
Extraction
of crude oil, which has a 5.21 percent weightage in IIP, fell by 4.1
percent during the month under review in comparison with 1.4 percent
decline of December 2014.
Coal mining, with a 4.38 percent weightage, increased by 6.1 percent.
The sub-index for natural gas output, with a weightage of 1.71 percent, slipped by 6.1 percent in the month under consideration.
The fertilisers manufacturing with a weightage of only 1.25 percent rose exponentially by 13.1 percent.
Steel declined by 4.4 percent in December 2015.
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