The Office of Economic Adviser, Department for Promotion of Industry and Internal Trade is releasing Index of Eight Core Industries for the Month of July, 2020 (BASE: 2011-12=100).
The combined Index of Eight Core Industries stood at 119.9 in July, 2020, which declined by 9.6 (provisional) per cent as compared to the Index of July, 2019.Its cumulative growth during April to July, 2020-21 was -20.5%.
Final growth rate of Index of Eight Core Industries for April’2020 is revised at -37.9%.The Eight Core Industries comprise 40.27 per cent of the weight of items included in the Index of Industrial Production (IIP).Details of yearly/monthly index and growth rate is provided atAnnexure.
Monthly growth rates of Index of Eight Core Industries (Overall) is depicted in the graph:
The summary of the Index of Eight Core Industries is given below:
Coal
Coal production (weight: 10.33 per cent) declined by 5.7 per cent in July, 2020 over July, 2019. Its cumulative index declined by 12.9 per cent during April to July, 2020-21 over corresponding period of the previous year.
Crude Oil
Crude Oil production (weight: 8.98 per cent) declined by 4.9 per cent in July, 2020 over July, 2019. Its cumulative index declined by 6.1 per cent during April to July, 2020-21 over the corresponding period of previous year.
Natural Gas
The Natural Gas production (weight: 6.88 per cent) declined by 10.2 per cent in July, 2020 over July, 2019. Its cumulative index declined by 14.7 per cent during April to July, 2020-21 over the corresponding period of previous year.
Refinery Products
Petroleum Refinery production (weight: 28.04 per cent) declined by 13.9 per cent in July, 2020 over July, 2019. Its cumulative index declined by 17.1 per cent during April to July, 2020-21 over the corresponding period of previous year.
Fertilizers
Fertilizers production (weight: 2.63 per cent) increased by 6.9 per cent in July, 2020 over July, 2019. Its cumulative index increased by 3.9 per cent during April to July, 2020-21 over the corresponding period of previous year.
Steel
Steel production (weight: 17.92 per cent) declined by 16.4 per cent in July, 2020 over July, 2019. Its cumulative index declined by 42.0 per cent during April to July, 2020-21 over the corresponding period of previous year.
Cement
Cement production (weight: 5.37 per cent) declined by 13.5 per cent in July, 2020 over July,2019. Its cumulative index declined by 32.2 per cent during April to July, 2020-21 over the corresponding period of previous year.
Electricity
Electricity generation (weight: 19.85 per cent) declined by 2.3 per cent in July, 2020 over July, 2019. Its cumulative index declined by 12.4 per cent during April to July, 2020-21 over the corresponding period of previous year.
Note 1: Data for May, 2020, June, 2020 and July, 2020 are provisional.
Note 2: Since April, 2014, Electricity generation data from Renewable sources are also included.
Note 3: The industry-wise weights indicated above are individual industry weight derived from IIP and blown up on pro rata basis to a combined weight of ICI equal to 100.
Note 4: Since March 2019, a new steel product called Hot Rolled Pickled and Oiled (HRPO) under the item ‘Cold Rolled (CR) coils’ within the production of finished steel has also been included.
Note 5: Release of the index for August, 2020 will be on Wednesday, 30th September, 2020.
