Output of eight core sectors increases by 11.6% in August
In August 2021 on a yearly basis, cement sector output grew by 36.3%, while steel increased by 5.1%
Eight core industries, coal, crude oil and steel, posted a 11.6% increase in August on a yearly basis, according to government data released on Thursday. These eight core industries which includes coal, crude oil, natural gas, refinery products, fertilisers, steel, cement and electricity constitute 40.27% of the weight of items included in the Index of Industrial Production (IIP). Back in August 2020, the industries had contracted 6.9%. This is the third month in a row, that these core sectors have posted growth.
According to the data, production of coal, natural gas, refinery products, steel, cement and electricity increased in August 2021 as compared to the same period last year. However, crude oil and fertiliser industries output declined.
Coal and gas jump 20.6%
Coal and natural gas production rose by 20.6% in August 2021 as against the same month in the previous year.
In August 2021 on a yearly basis, cement sector output grew by 36.3%, while steel increased by 5.1%. Petroleum production and electricity generation went up by 9.1% and 15.3%.
On the other hand, production of crude oil fell by 2.3% in August YoY. Similarly, production of fertilisers went down by 3.1%.
During April to August 2021-22, the growth rate of these infrastructure industries stood at 19.3%, as compared to a contraction of 17.3% in corresponding period a year ago.
For May 2021, the index of eight core industries final growth has been revised downwards to 16.4% from an earlier estimate of 16.8%.