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Business News

Jul 31, 2020
6:18PM

Eight core industries' output shrinks 15% in June

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Contracting for the fourth consecutive month, the output of eight core infrastructure industries shrank by 15 per cent in June this year due to fall in the production of coal, crude oil, natural gas, steel, cement and electricity.
 
According to the data released by the Commerce and Industry Ministry today, the output of coal sector fell 15.5 per cent, crude oil declined by 6 per cent , natural gas by 12 per cent, refinery products fell by 8.9 per cent, steel sector plunged by 33.8 per cent, cement  by 6.9 per cent and electricity declined by 11 per cent.
 
In May this year, the sectors' output contracted by 22 per cent. The eight core sectors had expanded by 1.2 per cent in June last year.
 
During April-June in the current fiscal, the sector's output dipped by 24.6 per cent as compared to a positive growth of 3.4 per cent in the same period in the previous year.
 
These eight industries account for 40.27 per cent in the Index of Industrial Production (IIP).

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