Core
Indian economy: Core industry output contracts 2.6 pc in Nov
New Delhi/UNI: The output of eight core infrastructure sectors contracted 2.6 per cent in November, due to decline in production of natural gas, refinery products, steel and cement.
The production of the sectors had recorded a growth of 0.7 per cent in November, 2019.
The eight industries comprise 40.27 per cent of the weight of items included in the Index of Industrial Production.
Data released by the Commerce and Industry Ministry on Thursday showed that barring coal, fertiliser and electricity, all sectors -- crude oil, natural gas, refinery products, steel and cement -- recorded negative growth in November 2020.
During April-November, the output of the 8 sectors fell by 11.4 per cent as compared to a growth of 0.3 per cent in the same period of the previous year.
The output of crude oil, natural gas, refinery products, steel and cement declined by (-)4.9 per cent, (-)9.3 per cent, (-)4.8 per cent, (-)4.4 per cent, and (-)7.1 per cent, respectively, in November this year.
In comparison, coal and electricity output grew 2.9 per cent and 2.2 per cent during the month under review.
Fertiliser sector growth stood at 1.6 per cent as against 13.6 per cent in the same month last year.
Support Our Journalism
We cannot do without you.. your contribution supports unbiased journalism
IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.
Support objective journalism for a small contribution.
