The production of eight infrastructure industries grew 5.8 per cent in February as against a contraction of 3.3 per cent in the corresponding month last year, on account of performance by natural gas, petroleum refinery and steel sectors.
Among the eight core sectors (natural gas, petroleum refinery, steel, crude oil, fertiliser, coal, cement and electricity), the fertiliser and crude oil industries witnessed declines in their production with a negative growth of 1.4 per cent and 2.2 per cent, respectively, in February as compared with the previous year, according to official data released on Thursday.
Coal, natural gas, petroleum refinery products, steel, cement and electricity sectors registered growth in the range of 4-12.5 per cent. The natural gas industry posted the highest growth of 12.5 per cent in production, followed by petroleum refinery products (8.8 per cent), coal (6.6 per cent), steel (5.7 per cent), cement (5 per cent), electricity (4 per cent), crude oil (2.2 per cent) and fertiliser (1.4 per cent).
The growth rate of the eight sectors stood at 11 per cent during April-February this fiscal, as against a negative growth rate of 8.1 per cent during the same period last fiscal.
The industries had witnessed a decline of 4 per cent in January.
“Final growth rate of the Index of Eight Core Industries for November 2021 has been revised to 3.2 per cent from its provisional level 3.1 per cent. The cumulative growth rate of ICI during April-February 2021-22 was 11 per cent (provisional) as compared to the corresponding period of last FY,” the official statement said.
It added that the combined Index of Eight Core Industries stood at 137.1 in February 2022, which increased by 5.8 per cent (provisional) as compared to the Index of February 2021. “The production of coal, natural gas, refinery products, steel, cement and electricity industries increased in February 2022 over the corresponding period of last year.”
The Eight Core Industries comprise 40.27 percent of the weight of items included in the Index of Industrial Production (IIP).
Sector-Wise Production Growth Data
Coal production, having a weightage of 10.33 per cent in the Index, increased by 6.6 per cent in February 2022 over February 2021. “Its cumulative index increased by 9.8 per cent during April to February, 2021-22 over corresponding period of the previous year,” the statement said.
Crude oil production, which has a weightage of 8.98 per cent, declined 2.2 per cent in February 2022 over February 2021. Its cumulative index declined by 2.6 per cent during April to February, 2021-22 over the corresponding period of previous year.
Natural gas production, which carries a weightage of 6.88 per cent, jumped 12.5 per cent in February 2022 over February 2021. Its cumulative index increased by 20.5 per cent during April to February 2021-22 over the corresponding period of previous year.
Petroleum refinery products, which has the highest weightage 28.04 per cent in the Index, increased 8.8 per cent in February 2022 over February 2021. Its cumulative index increased by 9.2 per cent during April to February 2021-22 over the corresponding period of previous year.
Fertilisers’ production, which as a weightage of 2.63 per cent, fell 1.4 per cent in February 2022 over February 2021. Its cumulative index decreased by 0.4 per cent during April to February 2021-22 over the corresponding period of previous year.
Steel production, with the weightage of 17.92 per cent, increased by 5.7 per cent in February 2022 over February 2021. Its cumulative index increased by 18.4 per cent during April to February, 2021-22 over the corresponding period of previous year.
Cement production (5.37 per cent weight) increased 5 per cent in February 2022 over February 2021. Its cumulative index increased by 22.4 per cent during April to February 2021-22 over the corresponding period of previous year.
Electricity generation (19.85 per cent weightage) increased by 4 per cent in February, 2022 over February 2021. Its cumulative index increased by 8.1 per cent during April to February, 2021-22 over the corresponding period of previous year.
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