India’s Core Sectors Grow by 4% in June 2024
India’s index of the eight core sectors grew by 4% in June 2024, following a 6.3% growth in May, according to official data from the commerce ministry. These eight sectors include Coal, Electricity, Natural Gas, Steel, Fertilizer, and Cement, which all recorded positive growth in June 2024.
The cumulative growth rate of these core industries from April to June 2024-25 was 5.7% compared to the same period last year. Cement production increased by 1.9% in June 2024 over June 2023, while Coal production saw a significant rise of 14.8%.
However, Crude Oil production declined by 2.6% in June 2024 compared to June 2023. Electricity generation increased by 7.7%, and Fertilizer production went up by 2.4% in the same period. Natural Gas production also saw a rise of 3.3% in June 2024 over June 2023.
Petroleum Refinery production declined by 1.5% in June 2024 compared to June 2023, although its cumulative index increased by 0.9% from April to June 2024-25 over the corresponding period of the previous year.
Doubts Revealed
Core Sectors -: Core sectors are the main industries that are very important for the economy. In India, there are eight such sectors like Coal, Electricity, and Steel.
Growth Rate -: Growth rate is how much something has increased over a period of time. For example, if something grows by 4%, it means it has become 4% bigger than before.
Cumulative -: Cumulative means adding up over time. So, the cumulative growth rate is the total growth over a few months, not just one month.
Crude Oil -: Crude oil is a type of oil that is taken out of the ground and used to make petrol and other products.
Petroleum Refinery -: A petroleum refinery is a place where crude oil is turned into useful products like petrol, diesel, and other fuels.
