The eight-industry core sector grew 3.1% in November year-on-year (YoY), according to data by the Union Ministry of Commerce and Industry. It had contracted by 1.1% in November 2020.
The eight-core sector was up 7.5% in October 2021 and had contracted by 0.5 per cent in October 2020.
The production of sectors comprising natural gas, coal, steel, cement, fertilisers, refinery products, crude oil and electricity grew in November 2021 over the corresponding period last year, as per the ministry’s data.
The Index of Core Industries measures the output of the eight sectors, mentioned above.
Core sectors’ growth stood at 4.5 per cent in September this year. The eight core industries comprise 40.27 per cent of the weight of items included in the Index of Industrial Production (IIP).
During April-October this fiscal, the sectors’ output rose by 15.1 per cent as compared to a contraction of 12.6 per cent in the same period of the previous year. (Business Today)