X
X
Top

Output of eight crore infrastructure industries shrinks by 23.4% in May

Output of eight crore infrastructure industries shrinks by 23.4% in MayRepresentational Image
Highlights

The output of eight core infrastructure industries shrank by 23.4 per cent in May 2020 due to the coronavirus-induced lockdown.

The output of eight core infrastructure industries shrank by 23.4 per cent in May 2020 due to the coronavirus-induced lockdown.

According to the Commerce and Industry Ministry data released on June 30, 2020, 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 the previous year. The eight-core sectors had expanded by 3.8 per cent in May 2019.

"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 a substantial loss of production," the ministry said in a statement.

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

Show Full Article
Print Article
Download The Hans India Android App or iOS App for the Latest update on your phone.
Subscribed Failed...
Subscribed Successfully...
Next Story
More Stories