Eight core industries’ output contracts 23.4 per cent in May

By: PTI | New Delhi |
Updated: June 30, 2020 9:12:50 pm


Barring fertiliser, all seven sectors – coal, crude oil, natural gas, refinery products, steel, cement, and electricity – had recorded negative growth in May. (Representational Image)

The output of eight core infrastructure industries shrank by 23.4 per cent in May due to the coronavirus-induced lockdown, according to the official data.

The eight-core sectors had expanded by 3.8 per cent in May 2019, the data released by the Commerce and Industry Ministry on Tuesday showed.

Barring fertiliser, all seven sectors – coal, crude oil, natural gas, refinery products, steel, cement, and electricity – had recorded negative growth in May.

During April-May 2020-21, the sector’s output dipped by 30 per cent as compared to 4.5 per cent in the same period the previous year.

“In view of nationwide lockdown during April and May 2020 due to COVID-19 pandemic, various industries – Coal, Cement, Steel, Natural Gas, Refinery, Crude Oil etc experienced a substantial loss of production,” the ministry said in a statement.

These eight industries account for 40.27 per cent in the Index of Industrial Production (IIP).

📣 The Indian Express is now on Telegram. Click here to join our channel (@indianexpress) and stay updated with the latest headlines

For all the latest Business News, download Indian Express App.

Be the first to comment

Leave a Reply

Your email address will not be published.


*