Core sector output expands by 12.7% in June
According to official data the output of eight core infrastructure sectors expanded by 12.7 per cent in June against 9.4 per cent in the year-ago period.
The output growth of eight infrastructure sectors – coal, crude oil, natural gas, refinery products, fertilisers, steel, cement and electricity – stood at 19.3 per cent in May 2022.
Production of coal, refinery products, fertilisers, cement and electricity grew by 31.1%, 15.1%, 8.2%, 19.4% and 15.5%, respectively, in June.
Crude oil production contracted by 1.7%.
Growth in natural gas and steel production declined to 1.2% and 3.3%.
Core Sector Industries in India
The core industries have a major impact on general economic activities and industrial activities.
They significantly impact most other industries and represents the capital base of the economy.
The combined share of these eight industries in the Index of Industrial Production (IIP) is more than 40%.
These eight core sectors are - electricity, steel, refinery products, crude oil, coal, cement, natural gas and fertilizers.
About Index of Industrial Production (IIP)
It is an index of India that details the development of various sectors such as mineral mining, power and manufacturing in an economy.
The All India IIP is a composite indicator that measures short-term changes in the volume of production of a basket of industrial products over a given period.
Base year of IIP is 2011-2012.
NSO compiles the Index of Industrial Production (IIP) using secondary data received from 14 source agencies in various Ministries/Departments or their attached/subordinate offices.
What are Strategic Sectors?
These are -
Atomic energy, space and defence
Transport and telecommunications
Power, petroleum, coal and other minerals and
Banking, insurance and financial services
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