Production growth of major basic industries 12.1 percent in August – Dainik Savera Times

New Delhi: According to the data released by the government on Friday, the combined output of eight basic industries in the country including steel, coal and electricity registered a growth of 12.1 percent on an annual basis. The list of these industries also includes cement, crude oil, fertilizers, natural gas and refinery products. These eight industries account for 40.27 percent of the total industrial production of the country. According to the release of the Ministry of Commerce and Industry, the combined index of eight core industries (ICI) increased by 12.1 percent (provisional) in August 2023 as compared to the index of August 2022. The output of all eight core industries (viz. cement, coal, crude oil, power, fertiliser, natural gas, refinery products and steel) recorded positive growth in August 2023 as compared to the same month last year.

In the revised figures, the figures released for May 2023 of these basic industries have been revised to 5.2 percent. During the five months from April to August in the current financial year 2023-24, the production of these industries was 7.7 percent (provisional) higher than the same period of the last financial year. Cement industry production in August registered an increase of 18.9 percent compared to a year ago. In the same month, coal production increased by 17.9 percent and crude oil production recorded an increase of 2.1 percent. According to the release, compared to a year ago, in August this year, there was an increase of 14.9 percent in electricity production, 1.8 percent increase in fertilizer production and 10.0 percent increase in natural gas production. In August, production of petroleum refinery products was up 9.5 percent and steel production was up 10.9 percent on an annual basis.