Indian Industry Plus A Pratisrutiplus Suppliment
The Office of Economic Adviser, Department for Promotion of Industry and Internal Trade is releasing Index of Eight Core Industries (ICI) for the Month of April, 2021.ICI measures combined and individual performance of production in selected eight core industries viz. Coal, Crude Oil, Natural Gas, Refinery Products, Fertilizers, Steel, Cement and Electricity.The Eight Core Industries comprise 40.27 percent of the weight of items included in the Index of Industrial Production (IIP). Details of yearly and monthly indices and growth rate are provided at Annex I & II respectively.
The combined ICIstood at 126.7 in April2021, which increased by56.1per cent (provisional) as compared to the Index of April2020. This high growth rate in April 2021 is largely due to low Index base in April 2020 consequent tothe low industrial production across all sectors caused by nationwide lockdown imposed to contain spread of Covid-19 last year. The month over month production of eight core industries, as captured by ICI, declined by 15.1per cent (P) in April 2021 compared to March 2021(P) due to emergence of second wave of infectious COVID-19.
Final growth rate of Index of Eight Core Industries for January2021is revised to1.3%from its provisional level0.1 %.The growth rate of ICI during April-March 2020-21was (-)6.5% (P) as compared to the corresponding period of lastFY.
Annual and Monthly growth rate of Index of Eight Core Industries (combined) is depicted in the table:
P: Provisional, F: Final, * Annual growth rate (Y-o-Y) is calculated over the corresponding month of previous year #Monthly growth rate (M-o-M) is based on month over month comparison i.e. preceding month |
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The summary of the Index of Eight Core Industries is given below: Coal – Monthly Coal production (weight: 10.33 per cent) decreased by 46.0 percent (P) in April 2021 compared to March 2021 (P) while year on year basis production increased by 9.5 per cent (P) in April 2021compared toApril 2020. Its cumulative index declined by 1.9 per cent (P) during April to March, 2020-21 over corresponding period of the previous year.
Crude Oil–Monthly Crude Oil production (weight: 8.98 per cent) decreased by 4.6 percent (P) in April 2021 compared to March 2021 (P)while year on year basis production declined by 2.1 per cent (P) in April 2021 compared to April 2020. Its cumulative index declined by 5.2 per cent (P) during April to March, 2020-21 over the corresponding period of previous year. Natural Gas – Monthly Natural Gas production (weight: 6.88 per cent) decreased by 1.1 percent (P) in April 2021 compared to March 2021 (P)while year on year basis production increased by 25.0 per cent in April 2021 (P) over April 2020. Its cumulative index declined by 8.2 per cent (P) during April to March, 2020-21 over the corresponding period of previous year.
Petroleum Refinery Products–Monthly Petroleum Refinery production (weight: 28.04 per cent) decreased by 8.2 percent (P) in April 2021 compared to March 2021 (P) while year on year basis production increased by 30.9 per cent (P) in April 2021 over April 2020. Its cumulative index declined by 11.2 per cent (P) during April to March, 2020-21 over the corresponding period of previous year.
Fertilizers –Monthly Fertilizers production (weight: 2.63 per cent) decreased by 5.3 percent (P) in April 2021 compared to March 2021 (P) while year on year basisproduction increased by 1.7 per cent (P) in April 2021 over April 2020. Its cumulative index increased by 1.5 per cent (P) during April to March, 2020-21 over the corresponding period of previous year.
Steel –Monthly Steel production (weight: 17.92 per cent) decreased by 20.7 percent (P) in April 2021 compared to March 2021 (P) while year on year basisproduction increased by 400.0 per cent (P) in April 2021 over April 2020. Its cumulative index declined by 9.0 per cent (P) during April to March, 2020-21 over the corresponding period of previous year.
Cement –Monthly Cement production (weight: 5.37 per cent) decreased by 15.2 percent (P) in April 2021 compared to March 2021 (P)while year on year basisproduction increased by 548.8 per cent (P) in April 2021 over April 2020. Its cumulative index declined by 11.9 per cent (P) during April to March, 2020-21 over the corresponding period of previous year.
Electricity –Monthly Electricity generation (weight: 19.85 per cent) decreased by 3.3 percent (P) in April 2021 compared to March 2021 (P) while year on year basisproduction increased by 38.7 per cent (P) in April 2021 over April 2020. Its cumulative index declined by 0.5 per cent (P) during April to March, 2020-21 over the corresponding period of previous year.
Note 1: Data for February, 2021, March, 2021 and April, 2021 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 May, 2021 will be on Wednesday 30th June, 2021.
Annex I Performance of Eight Core Industries Yearly Index & Growth RateBase Year: 2011-12=100 Index
*Provisional
Growth Rates (on Y-o-Y basis in per cent)
*Provisional,YoY is calculated over the corresponding financial year of previous year
Annex II Performance of Eight Core Industries Monthly Index & Growth RateBase Year: 2011-12=100 Index
*Provisional
Growth Rates (on Y-o-Y basis in per cent)
*Provisional,YoY is calculated over the corresponding month of previous year |
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