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Last updated: 01 Oct, 2016  

Industry.9.Thmb.jpg Core industries output rises 3.2 pc in August

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SME Times News Bureau | 01 Oct, 2016
India's select industrial output rose by 3.2 percent in August on the back of higher production of steel, fertilisers and refinery products, official data showed on Friday.

The gauge for select factory output -- Index of Eight Core Industries (ECI) -- had increased by 3.00 percent in July and had risen by 3.2 percent in the corresponding month of 2015.

The cumulative growth during April to August increased by 4.5 percent.

The data which represents the output of major infrastructure sectors was released by the Ministry of Commerce & Industry.

The ECI comprises of nearly 38 percent weightage of the items included in the Index of Industrial Production (IIP).

The index includes sectors like coal, crude oil, natural gas, refinery products, fertilisers, steel (alloy and non-alloy), cement and electricity.

Under the ECI, steel, fertilisers, refinery products and cement reported healthy output, whereas production of coal, natrual gas and crude oil declined.

Electricity generation, which has the highest weightage of 10.32 percent in the IIP, inched up by 0.1 percent in August, as compared with the corresponding month of 2015.

Steel production, the second most important component as per weightage of 6.68 percent, surged the maximum among all the sub-indices. It zoomed by 17 percent in the month under review.

Distilling of refinery products, the third most important component as per weightage, was higher by 3.5 percent in August, as compared with the corresponding month of last year.

However, extraction of crude oil, which has a 5.21 percent weightage in IIP, decreased by 3.9 percent during last month.

Coal mining, with a 4.38 percent weightage, decreased by 9.2 percent last month.

Cement production, which has the weightage of 2.41 percent, increased by 3.1 percent in August 2016.

On the other hand, the sub-index for natural gas output, with a weightage of 1.71 percent declined by 5.7 percent during the month under consideration.

In contrast, fertiliser manufacturing, which has the least weightage of only 1.25 percent rose by 5.7 percent in August.
 
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