Business
Core sector output contracts by 23.4 pc in May

Core sector output contracts by 23.4 pc in May

Jun 30, 2020

New Delhi [India], June 30 (ANI): The eight core industries contracted by 23.4 per cent in May compared to a growth of 3.8 per cent the previous month, government data released on Tuesday showed.
"In view of nationwide lockdown during April and May due to Covid-19 pandemic, various industries -- coal, cement, steel, natural gas, refinery, crude oil, etc experienced substantial loss of production," said the Ministry of Commerce and Industry in a statement.
Barring fertiliser, all seven sectors -- coal, crude oil, natural gas, refinery products, steel, cement and electricity -- had recorded negative growth in May.
While fertiliser production increased by 7.5 per cent, the production of coal declined by 14 per cent, crude oil by 7.1 per cent, natural gas by 16.8 per cent, refinery products by 21.3 per cent, steel by 48.4 per cent, cement by 22.2 per cent and electricity by 15.6 per cent.
These eight industries accounts for 40.27 per cent in the Index of Industrial Production (IIP).
(ANI)