Index of Eight Core Industries for August 2024
The Index of Eight Core Industries (ICI) serves as a crucial indicator of the industrial health of the economy. In August 2024, the combined index declined by 1.8% compared to August 2023. However, production in the Steel and Fertilizers sectors demonstrated positive growth during the same period.
The Eight Core Industries include:
These industries collectively account for 40.27% of the weight in the Index of Industrial Production (IIP).
Here are the index values for key sectors in August 2024:
Sector | Weight (%) | Index Value (Aug 2024) | Growth Rate (%) |
---|---|---|---|
Coal | 10.33 | 138.2 | -8.1 |
Crude Oil | 8.98 | 75.7 | -3.4 |
Natural Gas | 6.88 | 77.4 | -3.6 |
Petroleum Refinery | 28.04 | 134.0 | -1.0 |
Fertilizers | 2.63 | 137.5 | 3.2 |
Steel | 17.92 | 207.4 | 4.5 |
Cement | 5.37 | 176.5 | -3.0 |
Electricity | 19.85 | 209.4 | -5.0 |
Overall Index | 100.00 | 155.8 | -1.8 |
Key Points | Details |
---|---|
Why in News | Index of Eight Core Industries (ICI) declined by 1.8% in August 2024, with positive growth in Steel and Fertilizers sectors. |
Eight Core Industries | Cement, Coal, Crude Oil, Electricity, Fertilizers, Natural Gas, Refinery Products, Steel. |
Weight in IIP | These industries account for 40.27% of the weight in the Index of Industrial Production (IIP). |
Coal Production | Declined by 8.1%, cumulative growth of 6.5% from April-August 2024. |
Crude Oil Production | Declined by 3.4%, cumulative decrease of 1.7%. |
Natural Gas Production | Declined by 3.6%, cumulative growth of 2.6%. |
Petroleum Refinery Products | Declined by 1.0%, cumulative growth of 1.7%. |
Fertilizers Production | Increased by 3.2%, cumulative growth of 1.7%. |
Steel Production | Increased by 4.5%, cumulative growth of 7.3%. |
Cement Production | Declined by 3.0%, cumulative growth of 0.7%. |
Electricity Production | Declined by 5.0%, cumulative growth of 6.8%. |
Overall Growth Rate | Cumulative growth rate for April-August 2024 stands at 4.6% compared to the previous year. |
Index Values (Aug 2024) | Coal: 138.2 (-8.1%), Crude Oil: 75.7 (-3.4%), Natural Gas: 77.4 (-3.6%), Petroleum Refinery: 134.0 (-1.0%), Fertilizers: 137.5 (3.2%), Steel: 207.4 (4.5%), Cement: 176.5 (-3.0%), Electricity: 209.4 (-5.0%). |
Overall Index | Index Value: 155.8, Growth Rate: -1.8%. |
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