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Index Of Eight Core Industries Grows By 18.1% In May

Coal industries grew by 25.1 per cent and fertiliser industries were up by 22.8 per cent. While the cement industries zoomed by 26.3 per cent, the electricity sector increased by 22 per cent

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The combined Index of Eight Core Industries (ICI) grew by 18.1 per cent in May 2022 as compared to the Index of May 2021, said the Ministry of Commerce and Industry on Thursday. 

The ministry said that the Index stood at 148.1 in May 2022. The production of cement, coal, fertilisers and electricity industries recorded high growth in May 2022 over the corresponding period of last year. 

Coal industries grew by 25.1 per cent and fertiliser industries were up by 22.8 per cent. While the cement industries zoomed by 26.3 per cent, the electricity sector increased by 22 per cent.

The final growth rate of the index of ICI for February 2022 is revised to 5.9 per cent from its provisional level of 5.8 per cent. The growth rate of ICI during April-May 2022-23 was 13.6 per cent as compared to the corresponding period of last FY, it said. 

The ministry added that coal production (weight: 10.33 per cent) increased by 25.1 per cent in May 2022 over May 2021. Its cumulative index increased by 26.9 per cent from April to May 2022-23 over the corresponding period of the previous year.

Talking about crude oil production (weight: 8.98 per cent), it increased by 4.6 per cent in May 2022 over May 2021. Its cumulative index increased by 1.8 per cent from April to May 2022-23 over the corresponding period of the previous year.

According to the data, natural gas production (weight: 6.88 per cent) increased by 7.0 per cent in May 2022 as compared to May 2021 and its cumulative index was up by 6.7 per cent from April to May 2022-23 over the corresponding period of the previous year.