The growth rate in the production of eight core sectors jumped to 7.4 per cent in December 2022, compared with 4.1 per cent in the corresponding month last year, according to the latest official data released on Tuesday. During April-December 2022, the core industries’ growth was 8 per cent, compared with 12.6 per cent in the year-ago period.
The eight core sectors are coal, crude oil, natural gas, refinery products, fertiliser, steel, cement and electricity.
“Final growth rate of Index of Eight Core Industries for September 2022 is revised to 8.3 per cent from its provisional level 7.9 per cent. The cumulative growth rate of ICI during April-December 2022 was 8.0 per cent (provisional) as compared to the corresponding period of last year,” the commerce and industry industry said in a statement.
In December 2022, coal, fertiliser, steel and electricity segments showed better performance. Crude oil output, however, contracted by 1.2 per cent in December 2022.
The production of eight key sectors rose by 5.7 per cent in November 2022.
The production of coal rose by 11.5 per cent, fertiliser by 7.3 per cent, steel by 9.2 per cent, and electricity by 10 per cent in December 2022 compared to a year ago.
Core sector or key infrastructure industries, which have a 40.27 per cent weight in the overall index of industrial production (IIP), also have a bearing on industrial production data.
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