Eight core industries’ output up 2.5% in April

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New Delhi, May 31 (IANS) The output of India’s eight major industries during last month grew by 2.5 per cent from a rise of 5.3 per cent reported in March 2017, official data showed on Wednesday.

The Eight Core Industries (ECI) data which represents the output of major industrial sectors like coal, steel, cement and electricity had grown by 8.7 per cent in the corresponding month of 2016.

“The combined Index of ECI stands at 118.6 in April, 2017, which is 2.5 per cent higher compared to the index of April, 2016. Its cumulative growth during April to March, 2016-17 was 4.8 per cent,” the Ministry of Commerce and Industry, which releases the figures, said.

The index comprises 40.27 per cent weightage of the Index of Industrial Production (IIP). Last month, the base year of ECI index was revised from 2004-05 to 2011-12.

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

Electricity generation, which has the second highest weightage of 19.85 per, edged up by 4.7 per cent last month.

Steel production, the third most important component with weightage of 17.92 per cent, increased by 9.3 per cent during the month under review. Conversely, coal mining, with a 10.33 per cent weightage, decreased by 3.8 per cent in April 2017.

Extraction of crude oil, which has a 8.98 per cent weightage, was slightly lower 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 edged higher by two per cent.

In contrast, cement production, which has the weightage of 5.37 per cent, decreased by 3.7 per cent in April 2017.

Fertiliser manufacturing, which has the least weightage of only 2.63 per cent increased by 6.2 per cent.

–IANS

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