India’s core industries’ output rises in June

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New Delhi, Aug 1 (IANS) The Indian infrastructure sector output in eight “core” industries (ECI) grew by 5.2 per cent in June compared with the same month last year and 2.8 per cent growth in May 2016, on the back of overall increase in production except in hydrocarbons, official data showed on Thursday.

The cumulative ECI growth during April-June was 5.4 per cent over the same quarter last year, according to the data furnished here by the Commerce Ministry.

The index comprises 38 per cent of the total weightage of items included in the Index of Industrial Production (IIP).

Under the ECI, fertilisers, coal refinery products, cement, steel and electricity industries reported healthy output, whereas production of natural gas and crude oil declined.

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Electricity generation, which has the highest weightage of 10.32 per cent in the IIP, augmented by 8.1 per cent in June, compared with the corresponding month of 2015.

Steel production, the second most important component as per weightage of 6.68 per cent, increased by only 2.4 per cent in the month under review.

Distilling of refinery products, the third most important component as per weightage, inched up by 3.5 per cent in June, compared with the corresponding month of last year.

However, extraction of crude oil, which has a 5.22 per cent weightage in IIP, decreased by 4.3 per cent during June.

In contrast, coal mining, with a 4.38 per cent weightage, increased during the month under consideration by an impressive 12 per cent.

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Cement production, which has the weightage of 2.41 per cent, increased by 10.3 per cent in June 2016, over the same month last year.

On the other hand, the sub-index for natural gas output, with a weightage of 1.71 per cent, declined by 4.5 per cent during the month under consideration.

But the fertiliser manufacturing, which has the least weightage of only 1.25 per cent, surged 9.8 per cent in June.



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