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