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Core industrial output up 11.6% in August
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SME Times News Bureau | 30 Sep, 2021
A demand rebound, along with waning impact of Covid 2.0, accelerated the
output of India's eight major industries in August on a sequential as
well as year-on-year basis.
The Index of Eight Core Industries
(ICI) readings for the last month showed an expansion of 11.6 per cent
from a decline of 6.9 per cent in output during the same month of the
previous year.
On a sequential basis, the core industrial growth during July stood at 9.9 per cent.
The
ICI index comprises 40.27 per cent of the weight of items included in
the Index of Industrial Production (IIP), and these industries comprise
coal, crude oil, natural gas, refinery products, fertilisers, steel,
cement, and electricity.
"The combined Index of Eight Core
Industries stood at 133.5 in August 2021, which increased by 11.6 per
cent (provisional) as compared to the index of August 2020," a Ministry
of Commerce and Industry statement said.
"The production of coal,
natural gas, refinery products, steel, cement, and electricity
industries increased in August 2021 over the corresponding period of
last year."
As per the statement, final growth rate of the ICI
for May 2021 has been revised to 16.4 per cent from its provisional
level of 16.8 per cent.
"The growth rate of ICI during April-August 2021-22 was 19.3 per cent (P) as compared to the corresponding period of last FY."
On
a sector-specific basis, the output of coal, which has a weightage of
10.33 per cent in the index, showed a growth of 20.6 per cent in August
2021 over the same month of the previous year.
Similarly, the
output of refinery products, which has the highest weightage of 28.04
per cent, rose by 9.1 per cent, compared to the corresponding month of
the last fiscal.
Electricity generation, which has the second
highest weightage of 19.85 per cent, rose by 15.3 per cent, whereas
steel production was up 5.1 per cent last month.
However, the
extraction of crude oil, which has a weightage of 8.98 per cent,
declined by 2.3 per cent during the month under consideration, though
the sub-index for natural gas output, with a weightage of 6.88 per cent,
rose by 20.6 per cent.
Cement production, which has a weightage of 5.37 per cent, rose by 36.3 per cent in the month under review.
Fertiliser manufacturing, which has the least weightage -- only 2.63 per cent -- declined by3.1 per cent.
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| Customs Exchange Rates |
| Currency |
Import |
Export |
US Dollar
|
66.20
|
64.50 |
UK Pound
|
87.50
|
84.65 |
Euro
|
78.25
|
75.65 |
| Japanese
Yen |
58.85 |
56.85 |
| As on 13 Aug, 2022 |
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