Core Industries Output Contracts Around 10% During April-December FY21

Ministry of Commerce & Industry stated yesterday that combined Index of Eight Core Industries stood at 133.8 in December,2020, which declined by 1.3% (provisional)as compared to the Index of December, 2019. Its cumulative growth during April to December, 2020-21 has been (-) 10.1%. Final growth rate of Index of Eight Core Industries for September'2020 is revised to 0.6% from its provisional level (-0.8%).The Eight Core Industries comprise 40.27% of the weight of items included in the Index of Industrial Production (IIP).

The summary of the Index of Eight Core Industries:

Coal- Coal production (weight: 10.33 per cent) increased by 2.2 per cent in December, 2020 over December, 2019. Its cumulative index declined by 1.9 per cent during April to December, 2020-21 over corresponding period of the previous year.

Crude Oil-Crude Oil production (weight: 8.98 per cent) declined by 3.6 per cent in December, 2020 over December, 2019. Its cumulative index declined by 5.7 per cent during April to December, 2020-21 over the corresponding period of previous year.

Natural Gas- The Natural Gas production (weight: 6.88 per cent) declined by 7.2 per cent in December, 2020 over December, 2019. Its cumulative index declined by 11.6 per cent during April to December, 2020-21 over the corresponding period of previous year.

Petroleum Refinery Products- Petroleum Refinery production (weight: 28.04 per cent) declined by 2.8 per cent in December, 2020 over December, 2019. Its cumulative index declined by 13.5 per cent during April to December, 2020-21over the corresponding period of previous year.

Fertilizers- Fertilizers production (weight: 2.63 per cent) declined by 2.9 per cent in December, 2020 over December, 2019. Its cumulative index increased by 3.0 per cent during April to December, 2020-21 over the corresponding period of previous year.

Steel-Steel production (weight: 17.92 per cent) declined by 2.7 per cent in December, 2020 over December, 2019. Its cumulative index declined by 16.7 per cent during April to December, 2020-21 over the corresponding period of previous year.

Cement-Cement production (weight: 5.37 per cent) declined by 9.7 per cent in December, 2020 over December, 2019. Its cumulative index declined by18.3 per cent during April to December, 2020-21 over the corresponding period of previous year.

Electricity- Electricity generation (weight: 19.85 per cent) increased by 4.2 per cent in December,2020 over December,2019. Its cumulative index declined by 3.7 per cent during April to December, 2020-21 over the corresponding period of previous year.

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