SME Times is powered by   
Search News
Just in:   • Govt, RBI discussing on allowing co-op banks to lend under ECLGS  • Confidence of Indian workforce steadily rising: LinkedIn survey  • CAIT seeks barring Huawei, ZTE from India's 5G plans  • 'Customers looking for alternates amid rising petrol, diesel prices'  • India saw record notebook sales in Q2, HP led overall PC market: IDC 
Last updated: 31 Jul, 2020  

Industry.9.4.Thmb.jpg Core sector output falls 15 pc in June

   Top Stories
» Govt, RBI discussing on allowing co-op banks to lend under ECLGS
» 'India wants reciprocal trade with the world'
» FM launches online dashboard for the National Infrastructure Pipeline
» Goyal calls upon more traders to join GeM
» 'Incentivising domestic manufacturing of API positive step'
SME Times News Bureau | 31 Jul, 2020

The production rate of India's eight major industries remained deep in the red in June 2020, official data showed on Friday.

However, the rate of fall in the Index of Eight Core Industries decelerated on a sequential basis, on account of opening up of economic activities.

On a sequential basis, the Index of Eight Core Industries for June declined by 15 per cent (provisional) compared to decline of 22 per cent (revised) during the previous month (May).

Though not comparable, the ECI index had shown a growth of 1.2 per cent in June 2019.

In a statement, the Office of Economic Adviser, Department for Promotion of Industry and Internal Trade, said: "Its cumulative growth during April to June 2020-21 was (-)24.6 per cent."

"Final growth rate of Index of Eight Core Industries for March 2020 is revised at (-) 8.6 per cent."

The eight core industries comprise coal, crude oil, natural gas, refinery products, fertilisers, steel, cement, and electricity. The ECI comprises over 40 per cent of the weight of items included in the Index of Industrial Production (IIP).

On sector-specific basis, the output of refinery products, which has the highest weightage of 28.03, declined (-) 8.9 per cent in June 2020 compared to the corresponding month of the last fiscal.

Similarly, electricity generation, which has the second highest weightage of 19.85, inched lower by (-) 11 per cent.

Steel production, the third most important component with weightage of 17.92, was lower by (-) 33.8 per cent during the month under review, while coal mining, with a 10.33 weightage, edged-lower by (-) 15.5 per cent.

The extraction of crude oil, which has an 8.98 weightage, declined by (-) 6 per cent during the month under consideration.

The sub-index for natural gas output, with a weightage of 6.88, declined by (-) 12 per cent.

Cement production, which has a weightage of 5.37, slid by (-) 6.9 per cent in the month under review.

However, fertiliser manufacturing, which has the least weightage -- only 2.63 -- rose by 4.2 per cent last month.

Print the Page
Add to Favorite
Share this on :

Please comment on this story:
Subject :
(Maximum 1500 characters)  Characters left 1500
Your name:

  Customs Exchange Rates
Currency Import Export
US Dollar
UK Pound
Japanese Yen 58.85 56.85
As on 11 Aug, 2020
  Daily Poll
COVID-19 has directly affected your business
 Can't say
  Commented Stories
» Starting an import export business: Basic guide for beginners(1)
» Offshore wind will 'surge' to over 234 GW by 2030; India lags behind(1)
» Aluminium sector for MEIS scheme as exports at stake(1)
» Importance of technology in Indian agriculture(1)
» One time loan restructuring(1)
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter