Core Sectors Growth: The production of 8 core sectors of the country has shown a good increase in the month of September. The output of eight core industries grew 7.9 per cent in September, driven by better performance in the coal, fertiliser, cement and power sectors. This information has been received from official figures. The health of the Indian system is also known from the Core Sectors released every year by the Union Ministry of Commerce and Industry.
If we look at last year’s data, the growth rate of basic industries was 5.4 percent in the same month a year ago. At the same time, the production of basic industries increased by 4.1 percent in August 2022. At the same time, in the first half (April-September) of the current financial year, the production of eight basic industries has increased by 9.6 percent. Due to this, the production of basic industries had increased by 16.9 percent in the same half of the previous financial year. In a release issued by the government, it has been said that the final growth rate for 8 core sectors for June 2022 has come to 13.1 percent, which is higher than its provisional level of 12.7 percent.
Know the different statistics of the 8 core sectors
on September coal production On a year-on-year basis, it grew by 12 per cent and power generation grew by 11 per cent. There itself Refinery Products Output It has seen a growth of 6.6 percent on a yearly basis. whereas fertilizers Or the production rate of fertilizer has been 11.8 percent compared to last year. in September 2022 steel output has grown at a rate of 6.7 per cent. cement production It has managed to achieve growth at the rate of 12.1 percent. crude oil Output declined by 2.3 per cent in September 2022. Other than this natural gas Output has shown a decline at the rate of 11.7 per cent.
What are basic industries or core sectors
Core sectors are those industries which are the main industries of any economy, they have a very important part in the economy, in which their weight or weightage is also included. If we look at the weight or weightage of core sectors of India, then petroleum refinery products (28.04 per cent), electricity generation (19.85 per cent), steel production (17.92 per cent), coal production (10.33 per cent), crude oil production (8.98 per cent), natural gas Production (6.88 per cent), Cement (5.37 per cent), Fertilizers (2.63 per cent) hold major positions with weightage. They also give an indication of how the economic growth rate of the country is going to be. The eight core industries include coal, crude oil, natural gas, refinery products, steel, cement and electricity.
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