Eight Core Industries Shrink By 23.4 Percent In May
The output of eight core infrastructure industries shrank by 23.4 per cent in May due to the coronavirus-induced lockdown, according to the official IIP data.
The eight core sectors had expanded by 3.8 per cent in May 2019, the data released by the Commerce and Industry Ministry on Tuesday showed.
Except Fertiliser, all seven sectors – Coal, Crude oil, Natural gas, Refinery products, Steel, Cement, and Electricity – had recorded negative growth in May.
These eight industries accounts for 40.27 per cent in the Index of Industrial Production (IIP).
During April-May 2020-21, the sectors output dipped by 30 per cent as compared to 4.5 per cent in the same period previous year.
The Nationwide lockdown during April and May 2020 due to COVID-19 pandemic, had a deep impact on these industries – Coal, Cement, Steel, Natural Gas, Refinery, Crude Oil etc., they experienced substantial loss of production as per Commerce ministry.