Core Industries Current Affairs

Core industries growth quickens to 6.7% in June 2018

As per data released by Union Ministry of Commerce and Industry, index of eight core industries expanded to 7-month high of 6.7% in June 2018. This was due to better performance by cement, refinery and coal sectors of the index. The previous high was witnessed in November 2017 at 6.9%. The growth rate in May 2018 was 4.3%.

Breakaway of June 2018

 

Key Facts

The combined index of eight core industries stands at 129.8 in June 2018 and was 6.7% higher as compared to the index of June 2017. Its cumulative growth during April to June 2018-19 was 5.2%. This growth in the core industry is considered by two factors.One is that government investment in infrastructure projects is going up, driving industries such as steel. The other is petroleum products are mainly exported and drive to increase exports will be pushing this up.

Core industries

Core industries are main or key industries of the economy. In most countries, these particular industry are backbone of all other industries. In India, there are eight core sectors comprising of coal, crude oil, natural gas, petroleum refinery products, fertilisers, steel, cement and electricity. The eight infrastructure sectors, constitute 40.27% of the total index of industrial production (IIP).

Revised weightage in core sectors: Petroleum Refinery production (weight: 28.04%), Electricity generation (19.85%), Steel production (17.92%), Coal production (10.33%), Crude Oil production (8.98%), Natural Gas production (6.88%), Cement production (5.37%), Fertilizers production (2.63%).

Month: Categories: Business & Economy Current Affairs 2018

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Index of Eight Core Industries register 3.6% growth in May 2018

According to Index of Eight Core Industries released by Ministry of Commerce and Industry, the growth of eight core infrastructure industries has dropped to 10-month low of 3.6% in May 2018 due to decline in production of crude oil and natural gas. This is the lowest growth rate since July 2017 when eight core infrastructure industries had expanded by 2.9%. The growth rate recorded in April 2018 stood higher at 4.6%.  In April and May 2018, the eight industries recorded 4.1% growth compared to 3.3% in same period in 2017.

Sector wise breakaway in May 2018

Core industries

Core industries can be defined as main or key industries of the economy. In most countries, these particular industry are backbone of all other industries. In India, there are eight core sectors comprising of coal, crude oil, natural gas, petroleum refinery products, fertilisers, steel, cement and electricity. The eight infrastructure sectors, constitute 40.27% of the total index of industrial production (IIP).

Revised weightage in core sectors: Petroleum Refinery production (weight: 28.04%), Electricity generation (19.85%), Steel production (17.92%), Coal production (10.33%), Crude Oil production (8.98%), Natural Gas production (6.88%), Cement production (5.37%), Fertilizers production (2.63%).

Month: Categories: Business & Economy Current Affairs 2018

Tags:

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