Growth of eight infrastructure sectors at 4.3% in September 2018

As per data released by Union Ministry of Commerce and Industry, index of eight core industries slowed down to 4.3% in September 2018. It is lowest growth recorded by core sectors in the last four months, as production of crude oil and natural gas declined by 4.2% and 1.8%, respectively. Previously, lowest growth rate was in May 2018 when core sectors expanded at 4.1%. In September 2018, Fertiliser, cement and electricity sectors output grew by 2.5%, 11.8% and 8.2%, respectively. However, growth of coal, refinery products, and steel sectors declined to 6.4%, 2.5% and 3.2%, respectively.

Core industries

Core industries are main or key industries of the economy. In most countries, these particular industries serve as 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: Current Affairs - November, 2018