Core Sectors Growth: The production of 8 core sectors of the country has shown good growth in September. The output of eight core industries grew 7.9 percent in September, driven by better performance in the coal, fertilizer, 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
In September, coal production grew by 12 percent year-on-year and electricity generation grew by 11 percent. At the same time, refinery product output has seen an increase of 6.6 percent on a year-on-year basis. Whereas the production rate of fertilizers or fertilizers has been 11.8 percent compared to last year. In September 2022, steel output grew by 6.7 percent, while cement production grew by 12.1 percent. Crude oil output declined by 2.3 percent in September 2022. Apart from this, natural gas output has shown a decline at the rate of 11.7 percent.
What are basic industries or core sectors?
Core sectors are those industries that 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 percent), electricity generation (19.85 percent), steel production (17.92 percent), coal production (10.33 percent), crude oil production (8.98 percent), natural gas Production (6.88 percent), Cement (5.37 percent), Fertilizers (2.63 percent) hold major positions with weightage. They also indicate 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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