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Home / Business News / Eight core industries’ record negative growth, output shrinks by 15 per cent in June

Eight core industries’ record negative growth, output shrinks by 15 per cent in June

The eight core sectors had expanded by 1.2 per cent in June 2019, data released by the Commerce and Industry Ministry on Friday showed.

business Updated: Jul 31, 2020 17:40 IST
Press Trust of India | Posted by Arpan Rai
Press Trust of India | Posted by Arpan Rai
A worker pours molten iron from a ladle to make automobile spare parts inside an iron casting factory in Ahmedabad.
A worker pours molten iron from a ladle to make automobile spare parts inside an iron casting factory in Ahmedabad. (REUTERS)

Contracting for the fourth consecutive month, the output of eight core infrastructure industries shrank by 15 per cent in June due to fall in the production of coal, crude oil, natural gas, steel, cement and electricity.

The eight core sectors had expanded by 1.2 per cent in June 2019, data released by the Commerce and Industry Ministry on Friday showed.

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

The output of coal, crude oil, natural gas, refinery products, steel, cement and electricity declined by 15.5 per cent, 6 per cent, 12 per cent, 8.9 per cent, 33.8 per cent, 6.9 per cent, and 11 per cent, respectively.

During April-June 2020-21, 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 previous year.

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

In May, the sectors’ output contracted by 22 per cent.

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