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Last updated: 01 Sep, 2016  

Industry THMB Core industries output index up 3.2 pc in July

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SME Times News Bureau | 01 Sep, 2016
The Index of Industrial Production (IIP) of eight core industries at 173.7 in July was 3.2 percent higher than a year ago, said the Union Commerce & Industry Ministry on Wednesday.

"The cumulative growth of the IIP was 4.9 percent during April-July of this fiscal (2016-17)," the ministry said in a statement here.

The eight core industries are coal, crude oil, natural gas, petroleum refinery products, fertilisers, steel (alloy and non-alloy), cement and electricity.

The core industries carry 38 percent of the weight of items in the IIP.

"According to the provisional data, coal production increased 5.1 year-on-year (YoY) and 5.3 percent in the first quarter under reference (Q1) compared to same quarter year ago," the statement noted.

Crude oil production, however, decreased 1.8 percent YoY and 2.9 percent in the first quarter from like period year ago.

Natural gas production increased 3.3 percent YoY but declined 3.8 percent in Q1 over same period year ago.

Petroleum refinery production increased 13.7 percent YoY and 8.7 percent in Q1 over corresponding period year ago.

Likewise, fertiliser production increased 2.5 percent YoY and 8.6 percent in Q1 over like period year ago.

Steel production marginally decreased 0.5 percent YoY but increased 2.8 percent in Q1 over same period year ago.

"Cement production increased 1.4 percent YoY and 4.6 percent quarterly, while electricity output went up 1.6 percent YoY and 7.1 percent quarterly," the statement added.
 
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