Article Title: Core sector growth slows to a 9 month low of 0.7 % in May on oil, gas and fertilizers
22-06-2025
Economy Current Affairs Analysis
Context
• Growth in the eight core sectors slowed to a nine-month low of 0.7% on contractions in crude oil, natural gas, fertiliser and electricity sectors.
• The Index of Eight Core Industries (ICI) for May, released by the Ministry of Commerce and Industry, was last lower in August 2024 when it contracted 1.4%. The pace of growth also marks two consecutive months of slowing growth in the index.
Index of Eight Core Industries (ICI)
• The eight core industries make up about 40% of the overall Index of Industrial Production (IIP).
• The Index of Eight Core Industries (ICI) is released by the Office of Economic Advisor, under the Ministry of Commerce and Industry.
• The ICI measures the combined and individual performance of production of eight core industries viz. Coal, Crude Oil, Natural Gas, Refinery Products, Fertilizers, Steel, Cement and Electricity.
Index of Industrial Production (IIP)
• It is an index that measures short-term changes in the volume of production across key economic sectors like mining, electricity, and manufacturing in India.
• It is published monthly by the National Statistical Organisation (NSO) under MoSPI (Ministry of Statistics and Programme Implementation)
• Reflects production changes compared to a base year (2011-2012).
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