Core Sector Growth Slows Down To 0.2% In June
A labourer welds metal at a workshop in the Dharavi slum area of Mumbai, India. (Photographer: Brent Lewin/Bloomberg)

Core Sector Growth Slows Down To 0.2% In June

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Growth of eight core industries dropped to 0.2 percent in June mainly due to a contraction in oil-related sectors as well as in cement production, according to official data.

The eight core sector industries—coal, crude oil, natural gas, refinery products, fertiliser, steel, cement and electricity— had expanded by 7.8 percent in June last year.

According to the data released by the government, crude oil output contracted by 6.8 percent while the refinery segment de-grew by 9.3 percent. The cement output declined by 1.5 percent.

Snapping its two-month declining trend, the production of fertilisers grew by 1.5 percent.

Steel and electricity production, however, increased by 6.9 percent and 7.3 percent, respectively, during the month under review.

During April-June, the eight sectors grew by 3.5 percent compared to 5.5 percent in the same period last year.

Also read: India’s Fiscal Deficit At 61% Of 2019-20 Target In June

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