Staff Reporter
India’s core sectors’ output growth increased by 3.1 per cent in October this year on annual basis, showed the data released by Ministry of Commerce on Friday. The growth of core sectors was 4.1 percent during April-October this fiscal. October marks the second consecutive month of rise in core sector growth, the eight core industries, which also represent India’s infrastructure output.
The production of Coal, Refinery Products, Steel, Cement, Electricity and Fertilizers recorded positive growth in October. The coal production increased by 7.8 percent, refinery products advanced by 5.2 percent, fertilizers witnessed an uptick of 0.4 percent, steel production rose by 4.2 percent, cement sector output growth increased 3.3 percent and electricity generation increased by 0.6 percent in October, 2024 in comparison to same month of last year. Meanwhile, the crude oil sector witnessed a fall of 4.8 percent and the Natural gas production declined by 1.2 percent for the same period.
The combined Index of Eight Core Industries measures the combined and individual performance of production of eight core industries which are Cement, Coal, Crude Oil, Electricity, Fertilizers, Natural Gas, Refinery Products and Steel. The Eight Core Industries comprise 40.27 percent of the weight of items included in the Index of Industrial Production.