India’s August core industries output jumps 2.6 percent

New Delhi, Sep 30 (IANS) India’s core industries’ output grew by 2.6 percent last month from an increase of 1.1 percent in July, due to a rise in production of fertilisers, refinery products, crude oil and electricity.

The select factory output index rose by 5.9 percent in August 2014.

The data on the select factory output was furnished by the commerce and industry ministry for the eight core industries (ECI), which comprises 38 percent of the total weightage of items included in the Index of Industrial Production (IIP).

The index’s cumulative growth from April to August 2015-16 stood at 2.2 percent, as compared to 5.6 percent during April-August 2014-15.

Electricity generation, commanding the highest weightage at 10.32 percent, rose robustly by 5.6 percent during the month under review, whereas steel production, the second most important component as per weightage, contracted 5.9 percent in August.

Distilling of refinery products, the third most important component as per weightage, was higher by 5.8 percent last month.

The crude oil extraction, which has a 5.21 percent weightage in ECI, was higher by 5.6 percent during the month under review in comparison to the data for August 2014.

Coal mining, that has a 4.38 percent weightage, marginally increased by 0.4 percent.

Cement manufacturing, having a weightage of 2.41 percent, was up by 5.4 percent during the last month.

The sub-index for natural gas output, having a weightage of 1.71 percent, grew by 3.7 percent in the month under consideration.

The fertilisers manufacturing which has a weightage of only 1.25 percent rose exponentially by 12.6 percent.

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