Core Industries Output Contracts Nearly 25% In June Quarter

Office of Economic Adviser, Department for Promotion of Industry and Internal Trade has released Index of Eight Core Industries for the Month of June, 2020. The growth rate of Index of Eight Core Industries for June 2020 declined by 15.0 % (provisional) compared to decline of 22.0 % (revised) in previous month of May 2020. Its cumulative growth during April to June, 2020-21 was -24.6 %.

Final growth rate of Index of Eight Core Industries for March'2020 is revised at -8.6 %. The Eight Core Industries comprise 40.27 per cent of the weight of items included in the Index of Industrial Production (IIP).
The summary of the Index of Eight Core Industries is given below:

Coal - Coal production (weight: 10.33 per cent) declined by 15.5 per cent in June, 2020 over June, 2019. Its cumulative index declined by 15.0 per cent during April to June, 2020-21 over corresponding period of the previous year.

Crude Oil - Crude Oil production (weight: 8.98 per cent) declined by 6.0 per cent in June, 2020 over June, 2019. Its cumulative index declined by 6.5 per cent during April to June, 2020-21 over the corresponding period of previous year.

Natural Gas - The Natural Gas production (weight: 6.88 per cent) declined by12.0 per cent in June, 2020 over June, 2019. Its cumulative index declined by 16.2 per cent during April to June, 2020-21 over the corresponding period of previous year.

Refinery Products - Petroleum Refinery production (weight: 28.04 per cent) declined by 8.9 per cent in June, 2020 over June,2019. Its cumulative index declined by 18.2 per cent during April to June, 2020-21 over the corresponding period of previous year.

Fertilizers- Fertilizers production (weight: 2.63 per cent) increased by 4.2 per cent in June, 2020 over June, 2019. Its cumulative index increased by 2.8 per cent during April to June, 2020-21 over the corresponding period of previous year.

Steel - Steel production (weight: 17.92 per cent) declined by 33.8 per cent in June, 2020 over June, 2019. Its cumulative index declined by 51.7 per cent during April to June, 2020-21 over the corresponding period of previous year.

Cement - Cement production (weight: 5.37 per cent) declined by 6.9 per cent in June, 2020 over June, 2019. Its cumulative index declined by 38.3 per cent during April to June, 2020-21 over the corresponding period of previous year.

Electricity - Electricity generation (weight:19.85 per cent) declined by 11.0 per cent in June, 2020 over June, 2019. Its cumulative index declined by 16.1 per cent during April to June, 2020-21 over the corresponding period of previous year.

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