Thursday, 10 Oct, 2024
By: Yash Gupte
Production of coal (weight: 10.33 percent) grew by 8.5 percent in February 2023 compared to February 2022. Image Source: IANS
According to data, February 2023 saw a growth in the production of fertilisers, coal, power, cement, steel, refinery products, and natural gas compared to the same month in the previous year.
According to government data released on Friday, production in eight infrastructure sectors increased at a 6 percent annual rate in February 2023, with the crude oil as an exception. The eight sectors experienced four-month growth peaks of 7.8 percent in January 2023 and 5.9 percent in February 2022, respectively. According to data, February 2023 saw a growth in the production of fertilisers, coal, power, cement, steel, refinery products, and natural gas compared to the same month in the previous year. The Eight Core Industries comprise 40.27 percent of the weight of items included in the Index of Industrial Production (IIP).
Production of coal (weight: 10.33 percent) grew by 8.5 percent in February 2023 compared to February 2022. Its cumulative index increased by 15.2 percent during April to February 2022-23 over corresponding period of the previous year. Production of crude oil (weight: 8.98 percent) fell by 4.9 percent in February 2023 compared to February 2022. From April through February of 2022–23, it experienced a 1.6 percent fall in its cumulative index compared to the same period of the previous year.
Production of natural gas (weight: 6.88 percent) grew by 3.2 percent in February 2023 compared to February 2022. From April to February 2022–2023, it experienced a 1.5 percent increase in its cumulative index compared to the same time the previous year. Petroleum Refinery production (weight: 28.04 percent) increased by 3.3 percent in February, 2023 over February, 2022. Its cumulative index increased by 5.2 percent during April to February, 2022-23 over the corresponding period of previous year.
Source: Ministry of Commerce and Industry
Production of fertilisers (weight: 2.63 percent) rose by 22.2 percent in February 2023 compared to February 2022. From April to February of 2022–2023, it witnessed an increase in its cumulative index of 11.5 percent compared to the same time the previous year. In comparison to February 2022, steel production (weight: 17.92 percent) increased by 6.9 percent in 2023. From April to February 2022–2023, it had a 7.5 percent increase in its cumulative index compared to the same time in the previous year.
Production of cement (weight: 5.37 percent) grew 7.3 percent in February 2023 compared to February 2022. Its cumulative index increased by 9.7 percent during April to February, 2022-23 over the corresponding period of previous year. Electricity generation (weight: 19.85 percent) increased by 7.6 percent in February, 2023 over February, 2022. From April to February of 2022–2023, compared to the same time the previous year, its cumulative index rose by 9.9 percent.
The production in eight infrastructure sectors increased at a 6 percent annual rate in February 2023, with the crude oil as an exception.
