This is the fifth consecutive month of contraction for the eight core industries.
Production in the country’s eight core sectors contracted 9.6 per cent in the month of July, government data showed. The July numbers are still an improvement over the – 12.9 per cent contraction witnessed in June. The data on the eight sectors – – coal, crude oil, natural gas, refinery products, fertiliser, steel, cement and electricity – comes at a time when the government is gradually easing restrictions that were imposed in March to curb the spread of Covid-19.
This is the fifth consecutive month of contraction for the eight core industries.
The eight sectors collectively have a 40 per cent weightage on the Index of Industrial Production (IIP).
The infra sector continued to be badly affected, with steel production declining 16.4 per cent and cement production reducing 13.5 per cent in the month of July as construction activity remained suspended across the country.
Coal production declined 5.7 per cent and oil production came in lower by 4.9 per cent during the same period.
The government also revised the core sector growth for the month of April to -37.9 per cent.
