SME Times is powered by   
Search News
Just in:   • Committed to nurture next-gen innovation in 6G technology: Jyotiraditya Scindia  • Europe facing earlier, stronger heatwaves: Climate scientist  • India and Namibia sign two MOUs in fields of health and entrepreneurship  • PM Modi arrives in Delhi after concluding 'productive and successful' 5-nation tour  • ASEAN to keep on consensus, inclusivity: Malaysian official 
Last updated: 29 May, 2020  

Industry.9.4.Thmb.jpg Core sector output plunges by over 38% in April

Industry.9.4.jpg
   Top Stories
» Committed to nurture next-gen innovation in 6G technology: Jyotiraditya Scindia
» Piyush Goyal holds talks with Malaysian minister on review of ASEAN trade pact
» India and OPEC have a unique and symbiotic relationship: Hardeep Puri
» SIP inflows hit all-time high in June, total AUM for equity MF at Rs 74.41 lakh crore
» India set to explore over 2.5 lakh sq kms area in one of largest offshore energy efforts
SME Times News Bureau | 29 May, 2020
The output of India's eight major industries crashed in April 2020 by over 38 per cent on account of the national lockdown implemented to curb the Covid-19 outbreak.

On a sequential basis, the Index of Eight Core Industries had declined by 9 per cent in March 2020 and a rise of 5.2 per cent in April 2019.

The eight core industries include coal, crude oil, natural gas, refinery products, fertilisers, steel, cement and electricity.

As per the ECI, all sectors contracted in April, led by a massive decline in cement and steel production.

The ECI comprises over 40 per cent of the weight of items included in the Index of Industrial Production (IIP).

"The growth rate of Index of Eight Core Industries for April 2020 declined by 38.1 per cent (provisional) compared to decline of 9 per cent (provisional) in the previous month of March 2020," the Ministry of Commerce and Industry said in a statement.

"In view of nationwide lockdown during April 2020 due to COVID-19 pandemic, various industries viz. Coal, Cement, Steel, Natural Gas, Refinery, Crude Oil etc experienced substantial loss of production."

According to ICRA's Principal Economist Aditi Nayar, while the lockdown contributed to a broad-based contraction across all the eight core sectors, it had a differential impact on the extent to which activity was curtailed in the various constituents.
 
Print the Page
Add to Favorite
 
Share this on :
 

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

 
  Customs Exchange Rates
Currency Import Export
US Dollar
84.35
82.60
UK Pound
106.35
102.90
Euro
92.50
89.35
Japanese Yen 55.05 53.40
As on 12 Oct, 2024
  Daily Poll
Do you think Indian businesses will be negatively affected by Trump's America First Policy?
 Yes
 No
 Can't Say
  Commented Stories
 
 
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter