Business EconomyPosted at: Nov 29 2024 7:10PM


Core sector output grows 3.1 pc YoY in October

New Delhi, Nov 29 (UNI) India's core sector output measured by index of eight core industries (ICI) grew by 3.1% year-on-year (YoY) in the month of October 2024, as per data released by Commerce Ministry on Friday.
The production of coal, refinery products, steel, cement, electricity and fertilizers recorded positive growth in October 2024 while crude oil and natural gas output shrank during this period.
The ICI measures the combined and individual performance of production of eight core industries viz. coal, crude oil, natural gas, refinery products, fertilizers, steel, cement and electricity. The eight core industries comprise 40.27% of the weight of items included in the Index of Industrial Production (IIP).
As per official data, coal production increased by 7.8% in October, 2024 over October, 2023. Crude oil and natural gas production declined 4.8% and 1.2% respectively during this period.
Petroleum refinery production increased by 5.2% year-on-year in October, 2024. Fertilizer, steel and cement production increased 0.4%, 4.2% and 3.3% respectively in October this year.
Electricity generation increased by 0.6% in October, 2024 over October, 2023.
On a cumulative basis, the eight core industries grew at 4.1% in the April-October period of the current fiscal year 2024-25.
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