The combined Index of Eight Core Industries (ICI) registered a growth of 0.5 percent in April 2023 compared to the same month last year, as per a government announcement made on Tuesday. This index gauges the output of eight crucial sectors, accounting for approximately 40 percent of India’s overall industrial production.
Provisional data released by the Ministry of Commerce and Industry reveals that five key sectors-coal, natural gas, steel, cement, and electricity-showed significant expansion in April. Specifically, cement production surged by 6.7 percent, followed by a 3.5 percent increase in coal output. Steel production rose by 3 percent, while electricity generation saw a growth of 1 percent. Natural gas production experienced a slight increase of 0.4 percent on an annual basis.
On the other hand, some sectors faced declines. The output of petroleum refinery products fell by 4.5 percent, fertilizer production decreased by 4.2 percent, and crude oil production declined by 2.8 percent in comparison to April 2022.
Overall, the Eight Core Industries constitute 40.27 percent of the weightage of items included in the Index of Industrial Production, highlighting their vital role in the nation’s economic framework.
Original Source: https://www.newsonair.gov.in/sensex-slips-over-57-points-to-82273-nifty-steady-near-25010-amid-mixed-global-cues/
Category: Business
Tags:
Publish Date: 2025-05-21 18:00:00
