India’s core infrastructure sector growth slows to 3.3% in August

New Delhi: The production of eight core infrastructure sector that includes coal, steel, cement, crude oil and electricity grew by 3.3 per cent in August, the slowest pace in nine months, as per the government data released on Friday.

The combined Index of Eight Core Industries increased by 3.3 per cent (provisional) as compared to the Index of August 2021, the Ministry of Commerce & Industry said in a statement. The production of fertilizers, coal, refinery products, steel, cement and electricity industries increased in August 2022 over the corresponding period of last year.

ICI measures the combined and individual performance of production in selected eight core industries viz coal, crude oil, natural gas, refinery products, fertilizers, steel, cement and electricity. The eight core industries comprise 40.27 per cent of the weight of items included in the Index of Industrial Production (IIP).

The final growth rate of index of eight core industries for May 2022 is revised to 19.3 per cent from its provisional level 18.1 per cent. The growth rate of ICI during April-August 2022-23 was 9.8 per cent (P) as compared to the corresponding period of last financial year.

Coal production increased by 7.6 per cent in August 2022 when compared with the same month last year. Its cumulative index increased by 22.7 per cent during April to August 2022-23 over the corresponding period of the previous year.

Crude oil production declined by 3.3 per cent in August 2022 over August 2021. Its cumulative index declined by 1.1 per cent during April to August 2022-23 over the corresponding period of the previous year.

Natural gas production declined by 0.9 per cent in August 2022 over August 2021. Its cumulative index increased by 2.6 per cent during April to August 2022-23 over the corresponding period of the previous year.

Petroleum refinery production increased by 7.0 per cent in August 2022 over August 2021. Its cumulative index increased by 10.8 per cent during April to August 2022-23 over the corresponding period of the previous year.

Fertilizers production increased by 11.9 per cent in August 2022 over August 2021. Its cumulative index increased by 11.4 per cent during April to August 2022-23 over the corresponding period of the previous year.

Steel production increased by 2.2 per cent in August 2022 over August 2021. Its cumulative index increased by 5.8 per cent during April to August 2022-23 over the corresponding period of the previous year.

Cement production increased by 1.8 per cent in August 2022 over August 2021. Its cumulative index increased by 10.6 per cent during April to August 2022-23 over the corresponding period of the previous year.

Electricity generation increased by 0.9 per cent in August 2022 over August 2021. Its cumulative index increased by 10.5 per cent during April to August 2022-23 over the corresponding period of the previous year.