IANS | 30 Apr, 2024
The eight core industries, which include sectors such as coal,
cement, steel and electricity, posted a 5.2 per cent growth in March
this year compared to the same month of the previous year, according to
data released by the Commerce and Industry Ministry on Tuesday.
Cement
production recorded a double-digit 10.6 per cent growth during the
month on the back of increased demand from big infrastructure projects
and pick-up in the real estate sector. Steel production also increased
by 5.5 per cent during the month.
Coal production went up by 8.7 per cent in March, while electricity generation increased by 8 per cent during the month.
Natural
Gas production recorded a 6.3 per cent growth in March while crude oil
production increased by 2 per cent. However, petroleum refinery
production declined marginally by 0.3 per cent during the month.
Fertiliser production also recorded a dip of 1.3 per cent in March.
The
cumulative growth rate of the index of the eight core industries for
the full year 2023-24 now works out to 7.5 per cent as compared to the
previous year. These core industries comprise 40.27 per cent of the
weight of items included in the Index of Industrial Production (IIP) and
give a pointer to the overall industrial growth rate.
