The combined Index of Eight Core Industries (ICI) increased by 6.7% in February 2024 as compared to the Index of February 2023, the Ministry of Commerce and Industry said on Thursday.
It said the production of Coal, Natural Gas,Cement, Steel, Crude Oil,Electricity and Refinery Products recorded positive growth in February 2024.
Further, the cumulative growth rate of Eight Core Industries during April to February, 2023-24 is 7.7% on a provisional basis as compared to the corresponding period of last year.
Further, the final growth rate of the Index of Eight Core Industries for November 2023 is revised to 7.9%.
Coal production marked the highest increase among all the sectors by 11.6% in February 2024 over February 2023.
Its cumulative index increased by 12.1% during April to February, 2023-24 over the corresponding period of the previous year.
It was followed by the Natural Gas production that marked an increase by 11.3% in February 2024 over February 2023. Natural Gas’s cumulative index increased by 6% during April to February, 2023-24 over the corresponding period of the previous year.
Cement production increased by 10.2% in February 2024 over last year, and its cumulative index increased by 9.1% during April to February 2023-24.
Steel production increased by 8.4% February, 2024 you, and its cumulative index increased by 12.9% during April to February, 2023-24 over the corresponding period of the previous year.
Crude Oil production increased by 7.9% in February 2024 over February last year. Its cumulative index increased by 0.5% during April to February 2023-24.
Electricity generation increased by 6.3% in February 2024 while its cumulative index increased by 6.8% during April to February, 2023-24 over the corresponding period of the previous year.
Petroleum Refinery production witnessed an increase of 2.6% in February 2024 yoy and its cumulative index increased by 3.8% during April to February, 2023-24 over corresponding period of the previous year.
In February, the Fertilizer production declined by 9.5 per cent in February 2024 over February, 2023. Its cumulative index increased by 4.1% during April to February, 2023-24 over the corresponding period of the previous year.