Monthly pulse · Office of the Economic Adviser, DPIIT

The Core Sector, Month by Month

Before GDP, before the broad factory-output numbers, eight industries tell you how India's engine room is running — coal, crude oil, natural gas, refining, fertilizers, steel, cement and electricity. Together they are the infrastructure backbone and about two-fifths of all industrial output. Track the headline, then open up any single industry. Numbers are the Economic Adviser's own, to the month.

How to read this. The Index of Eight Core Industries measures the output of eight infrastructure sectors on base 2011–12 = 100. The headline is their weighted average — Refinery Products (28.0%), Electricity (19.9%) and Steel (17.9%) carry the most weight, Fertilizers (2.6%) the least. "Growth" here is the year-on-year change; because the index is not seasonally adjusted, raw month-to-month swings (March is always a year-end production peak) are best read year-on-year. The latest month is provisional and shown dashed — recent months are revised in later releases.

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The Core Sector

Index of Eight Core Industries (base 2011–12=100), year-on-year — the output of the industries that power everything else.

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politypolicy.com · by Tushar Gupta

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