Home Business India ‘s core output contracts at a record 38.1 per cent in April

India ‘s core output contracts at a record 38.1 per cent in April

by the owl speaks

New Delhi: The output of eight core infrastructure industries decreased by a record 38.1 per cent in April due to coronavirus-induced lockdown, according to official data.

“The growth rate of the Eight Core Industries Index in April 2020 decreased by 38.1 per cent (provisional) compared to a decrease of 9 per cent (provisional) in the previous month of March 2020. In view of the national lockdown of various industries during April 2020 due to the COVID-19 pandemic. Coal, Cement , Steel, Natural Gas, Refinery, Crude Oil and so on experienced a significant loss of production, “the official release said.

The eight core sectors increased by 5.2% in April 2019, as reported by the Ministry of Commerce and Industry on Friday.

The final rate of growth of the Eight Core Industries Index for January 2020 remains unchanged at 2.2%, he added.

The Eight Core Industries account for 40,27% of the weight of the items included in the Industrial Production Index (IIP).

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