Page 297 - economic_survey_2021-2022

Industry and Infrastructure 271

Figure 6: Index of Eight core industries and IIP

160.0
140.0
120.0
value of index 80.0
100.0

60.0
40.0
20.0
0.0
Nov-19 Dec-19 Jan-20 Feb-20 Mar-20 Apr-20 May-20 Jun-20 Jul-20 Aug-20 Sep-20 Oct-20 Nov-20 Dec-20 Jan-21 Feb-21 Mar-21 Apr-21 May-21 Jun-21 Jul-21 Aug-21 Sep-21 Oct-21 Nov-21

Core IIP

Source: Survey calculation based on data from MOSPI and DPIIT
8.7 The growth rate of the ICI index during the period of April-November2021-22was
13.7percent as compared to (-)11.1 percent in the corresponding period of last financial year.
This acceleration in ICI is mainly driven by improved performance in the steel, cement, natural
gas, coal and electricity. Fertilizers and crude oil registered a negative growth of 0.6 percent and
2.7 percent respectively.
Figure 7: Index of Eight core industries and IIP

Source: Survey calculation based on data from DPIIT
8.8 The Index of eight core industries has shown a pickup in growth in almost all its components
barring crude oil and fertilizers in 2021-22(April-November) as compared to2019-20(April-
November) (Figure 7). Figure 8 shows the recovery of core industries in November 2021 as a
percentage of the values in February 2020 and November 2019. The steel, crude oil, fertilizers,
electricity and natural gas have recovered as compared to February 2020 level. In addition, the
value of index for steel, fertilizers, electricity, natural gas and coal is also higher than the pre
lockdown level (November 2019).