Eight core industries’ output slows down in June

New Delhi, July 31 (IANS) Production in India’s eight major industries slowed down during June, as the total output rose only by 0.4 per cent as against an increase of 4.1 per cent in May 2017, official data showed on Monday.

The Eight Core Industries (ECI) data, which represents the output of major industrial sectors like coal, steel, cement and electricity, grew by seven per cent in the corresponding month of 2016.

“The combined index of ECI stands at 121 in June 2017, which was 0.4 per cent higher compared to the index of June 2016,” the Ministry of Commerce and Industry said in the summary report for the index of ECI.

“Its cumulative growth during April to June, 2017-18, was 2.4 per cent.”

The ECI index comprises 40.27 per cent weightage of the Index of Industrial Production (IIP).

On a sector-specific basis, refinery production, which has the highest weightage of 28.03 per cent, slipped by 0.2 per cent in June 2017 as compared with the corresponding month of last year.

However, electricity generation, which has the second highest weightage of 19.85 per, rose by 0.7 per cent last month.

Steel production, the third most important component with weightage of 17.92 per cent, increased by 5.8 per cent during the month under review. Conversely, coal mining, with a 10.33 per cent weightage, decreased by 6.7 per cent in June 2017.

Extraction of crude oil, which has an 8.98 per cent weightage, inched up by 0.6 per cent during the month under consideration.

On the other hand, the sub-index for natural gas output, with a weightage of 6.88 per cent stood higher by 6.4 per cent.

Besides, cement production, which has the weightage of 5.37 per cent, decreased by 5.8 per cent in June 2017.

In contrast, fertiliser manufacturing, which has the least weightage of only 2.63 per cent, decreased by 3.6 per cent.

–IANS

rv/vt

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