India’s core sector output declined by 1.8% in August 2024

India’s core sector output declined by 1.8% in August 2024.
The Index of Eight Core Industries (ICI) has seen a 1.8% decline in August 2024.
This decline was caused by negative growth in coal, crude oil, natural gas, petroleum refinery products, cement, and electricity production.
Steel and fertilizers have recorded an increase in output during August 2024.
The cumulative growth rate of the Eight Core Industries was 4.6% from April to August 2024-25.
The Index of Eight Core Industries (ICI) tracks the combined and individual performance of eight core industries.
The contribution of eight core industries to the Index of Industrial Production (IIP) is 40.27%.
Coal production and crude oil production saw an 8.1 percent and 3.4 percent decrease, respectively, in August 2024 compared to August 2023.
Natural gas production dropped by 3.6 percent in August 2024 and petroleum refinery products saw a 1.0 percent decrease in August 2024.
Fertilizer production and steel production grew by 3.2 percent and 4.5 percent in August 2024.
Cement production saw a 3.0 percent decline in August 2024 and electricity generation declined by 5.0 percent in August 2024.