India's core sector growth contracts by 0.8% in September

30 Oct 2020 Evaluate

The ministry of Commerce and Industry in its latest data has showed that the growth of eight core infrastructure industries contracted by 0.8 percent in September 2020 as compared to same period of last year, mainly due to decline in production of crude oil, natural gas, refinery products and cement. However, the decline in output during the month under review was lowest since March 2020. The production of eight core sectors had contracted 5.1 percent in September 2019. The Eight Core Industries - coal, crude oil, natural gas, refinery products, fertilisers, steel, cement and electricity - comprise 40.27% of the weight of items included in the Index of Industrial Production (IIP).

Among eight core sectors, Coal production having 10.33 percent weight increased by 21.20 percent in September, 2020 over September, 2019, while its cumulative index fell by 6.1 percent during April to September, 2020-21 over corresponding period of the previous year. Petroleum Refinery production having 28.04 percent weight declined 9.5 percent in September, 2020 over September, 2019, while its cumulative index dropped by 16.3 percent during April to September, 2020-21 over the corresponding period of previous year.

Electricity generation having 19.85 percent weight roe 3.7 percent in September, 2020 over September, 2019, and its cumulative index decreased by 8.2 percent during April to September, 2020-21 over the corresponding period of previous year. Cement production having 5.37 percent weight declined by 3.5 percent in September, 2020 over September, 2019 and its cumulative index fell by 25.1 percent during April to September, 2020-21 over the corresponding period of previous year. Steel production having 17.92 percent weight surged by 0.9 percent in September, 2020 over September, 2019, while its cumulative index fell by 26.7 percent during April to September, 2020-21 over the corresponding period of previous year.

Crude Oil production having 8.98 percent weight fell by 6.0 percent in September, 2020 over September, 2019 and its cumulative index dropped by 6.1 percent during April to September, 2020-21 over the corresponding period of previous year. The Natural Gas production having 6.88 percent weight declined by 10.6 percent in September, 2020 over September, 2019, and its cumulative index was down by 13.2 percent during April to September, 2020-21 over the corresponding period of previous year. Fertilizer production having 2.63 percent weight declined by 0.3 percent in September, 2020 over September, 2019, while its cumulative index was up by 3.7 percent during April to September, 2020-21 over the corresponding period of previous year.

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