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Output contracts in eight core industries fell 15% for the fourth consecutive month in June

New Delhi: In June, the output value of the eight core infrastructure industries fell for the fourth consecutive month. Official data on Friday showed that due to the decline in the output of coal, crude oil, natural gas, steel, cement and electricity, the output of the core infrastructure industry fell by 15% in June.

Data released by the Ministry of Industry and Commerce on Friday showed that the eight core departments increased by 1.2% in June 2019. The final growth rate of the eight core industry index was revised to -8.6% in March 2020. The eight core industries account for 40.27% of the project weight in the Industrial Production Index (IIP).

With the exception of fertilizers, all seven sectors (coal, crude oil, natural gas, refined products, steel, cement and electricity) recorded negative growth in June.

The output of coal, crude oil, natural gas, refined oil products, steel, cement and electricity fell by 15.5%, 6%, 12%, 8.9%, 33.8%, 6.9% and 11%, respectively.

Between April and June 2020-21, the industry’s output value fell by 24.6%, compared with a positive growth of 3.4% in the same period last year.

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