Economy

Core industries grew 6.6% in July on refinery output

Our Bureau New Delhi | Updated on August 31, 2018

The eight core industries, driving 40.27 per cent of India’s industrial production, grew 6.6 per cent during July against a growth of 2.9 per cent in the same month last year.

The growth was largely on account of robust energy demand met by higher production by the oil refineries. Refinery production rose 12.3 per cent in July. Refinery production had declined by 2.7 per cent in July 2017 versus the same month in 2016.

Domestic crude oil production, however, continued to decline and registered a 5.4 per cent fall in the month under review.

 

 

Anti-dumping measures and firming up of steel prices reflected positively on the sector and steel production continued with the upward trend. It was up six per cent in July against the same month last year.

Cement production was 10.8 per cent higher, while electricity generation grew by 4.8 per cent over July 2017. An official statement said that there was a 9.7 per cent growth in coal production during the month. Natural gas production was 5.2 per cent lower during July over the same month last year, while fertiliser production reported a 1.3 per cent increase.

Published on August 31, 2018

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