Steel, fertilisers clock positive growth in August: Centre

New Delhi, Sep 30 (SocialNews.XYZ) The production of steel and fertilisers recorded positive growth in the month of August as the eight core industries’ index declined by 1.8 per cent (provisional) on an annual basis, the government said on Monday.

Fertiliser production increased by 3.2 per cent in August over the same month last year. Its cumulative index increased by 1.7 per cent from April to August 2024-25 over the corresponding period of the previous year, according to data released by the Commerce and Industry Ministry.

Steel production increased by 4.5 per cent YoY. Its cumulative index increased by 7.3 per cent from April to August 2024-25 over the corresponding period of the previous year.

The eight core industries comprise 40.27 per cent of the weight of items included in the Index of Industrial Production (IIP). The cumulative growth rate of Index of Eight Core Industries during April-August stood at 4.6 per cent (provisional) as compared to the corresponding period of last year.

The final eight core industry growth rate stood at 6.9 per cent.

Coal production declined by 8.1 per cent in August. Its cumulative index increased by 6.5 per cent from April to August over the corresponding period of the previous year. Crude oil production declined by 3.4 per cent and its cumulative index declined by 1.7 per cent from April to August. Electricity generation declined by 5.0 per cent and its cumulative index increased by 6.8 per cent from April to August.

In July, India’s core sector, comprising industries such as coal, electricity, steel, and cement, posted a 6.1 per cent growth in July after having slowed to 4 per cent in June. Meanwhile, the country’s Index of Industrial Production (IIP) rose by 4.8 per cent in the month of July, improving its performance from 4.7 per cent in June. The growth rates of three sectors -- mining, manufacturing and electricity -- were 3.7 per cent, 4.6 per cent and 7.9 per cent, respectively.

Source: IANS