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Growth in Core sectors
Details
- The previous high was witnessed in November 2017 at 6.9 per cent. The growth rate in May was 4.3 per cent.
- Petroleum products saw 12.06% growth in June 2018, up from 4.94% in May.
- The eight sectors, which also include fertilisers, steel, natural gas, electricity and crude oil, had expanded by 1 per cent in June last year.
- As per the data released by the commerce and industry ministry, the expansion in cement, refinery products and coal was 13.2 per cent, 12 per cent and 11.5 per cent respectively, year-on-year basis.
- Crude oil and natural gas registered a negative growth of 3.4 per cent and 2.7 per cent, respectively, in June compared to the year-ago period.
- The expansion in the electricity generation was 4 per cent in June against 2.2 per cent in the year-ago period.
- Steel sector witnessed a slower growth of 4.4 per cent against 6 per cent in June 2017.
- Expansion rate in the fertiliser segment was 1 per cent, better than negative growth recorded in the year ago month.
Core sectors
- Core industry can be defined as the main industry of the economy.
- In most countries, there is particular industry that seems to be backbone of all other industries and it qualifies to be the core industry.
- In India, there are eight core sectors comprising of coal, crude oil, natural gas, refinery products, fertilisers, steel, cement and electricity.
- The Eight Core Industries comprise 40.27 per cent of the weight of items included in the Index of Industrial Production (IIP).
- The combined index of eight core industries stands at 129.8 in June 2018.
- The electricity has the maximum weight of 10.32% followed by Steel (6.68%), Petroleum Refinery (5.94%) with Fertilizer production (1.25%) having lowest weight.
Source
The Hindu, Indian Express