Eight core industries’ output contracts 23.4% in May
NEW DELHI: The output of eight core infrastructure industries shrank by 23.Four per cent in May as a result of coronavirus-induced lockdown, based on the official information.
The eight core sectors had expanded by 3.eight per cent in May 2019, the info launched by the commerce and trade ministry on Tuesday confirmed.
Barring fertiliser, all seven sectors – coal, crude oil, pure gasoline, refinery merchandise, metal, cement, and electrical energy – had recorded destructive development in May.
During April-May 2020-21, the sectors output dipped by 30 per cent as in comparison with 4.5 per cent in the identical interval earlier yr.
“In view of nationwide lockdown during April and May 2020 due to COVID-19 pandemic, various industries – Coal, Cement, Steel, Natural Gas, Refinery, Crude Oil etc experienced substantial loss of production,” the ministry mentioned in an announcement.
These eight industries accounts for 40.27 per cent in the Index of Industrial Production (IIP).