Eight Core Industries’ Output Contracts 2.6% In November
The portrait of Mahatma Gandhi is displayed on an Indian 50 rupee, left, and 2000 rupee banknotes. (Photographer: Brent Lewin/Bloomberg)

Eight Core Industries’ Output Contracts 2.6% In November

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Contracting for the ninth consecutive month, the output of eight core infrastructure sectors dropped by 2.6% in November, mainly due to decline in production of natural gas, refinery products, steel and cement.

The production of eight core sectors had recorded a growth of 0.7% in November 2019, data released by the commerce and industry ministry showed on Thursday.

Barring coal, fertiliser and electricity, all sectors -- crude oil, natural gas, refinery products, steel and cement -- recorded negative growth in November 2020.

During April-November, the sectors' output dropped by 11.4% as compared to a growth of 0.3% in the same period of the previous year.

The output of crude oil, natural gas, refinery products, steel and cement declined by (-)4.9%, (-)9.3%, (-)4.8%, (-)4.4%, and (-)7.1%, respectively, in November this year.

Also read: India’s Fiscal Deficit Reaches 135.1% Of Budgeted Target During April-November

On the other hand, coal and electricity sector output grew by 2.9% and 2.2% during the month under review.

Fertiliser sector growth stood at 1.6% as against 13.6% in the same month last year.

The eight core industries account for 40.27% of the IIP.

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