STOCK MARKET BSE NSE

Eight core industries' output contracts 23.4 per cent in May

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

Published: 30th June 2020 05:40 PM  |   Last Updated: 30th June 2020 05:40 PM   |  A+A-

Stocks, BSE, Sensex, NSE

For representational purposes.

By PTI

NEW DELHI: The output of eight core infrastructure industries shrank by 23.4 per cent in May due to the coronavirus-induced lockdown, according to the official data.

The eight core sectors had expanded by 3.8 per cent in May 2019, the data released by the Commerce and Industry Ministry on Tuesday showed.

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

During April-May 2020-21, the sectors output dipped by 30 per cent as compared to 4.5 per cent in the same period previous year.

"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 said in a statement.

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

Stay up to date on all the latest Business news with The New Indian Express App. Download now

Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp