Output of eight core industries shrinks by 1.3 pc in December 2020

The combined Index of eight core industries stood at 133.8 in December 2020 and declined by 1.3 (provisional) per cent as compared to the Index of December, 2019, Commerce Ministry said on Friday. Its cumulative growth during April to December 2020-21 has been – 10.1 per cent in the conditions created by COVID-19. These industries comprise coal, crude oil, natural gas, refinery products, fertilisers, steel, cement, and electricity. These industries comprise 40.27 per cent of the weight of items included in the Index of Industrial Production (IIP). Coal production, which has a weight of 10.33 per cent among the eight core industries, increased by 2.2 per cent in December 2020 compared to the corresponding month of the last fiscal. Its cumulative index declined by 1.9 per cent during April to December, 2020-21 over the corresponding period of the previous fiscal. Crude oil production, which has a weight of 8.98 per cent, declined by 3.6 per cent in December 2020 compared to the corresponding month of the last fiscal. Its cumulative index declined by 5.7 per cent during April to December, 2020-21 over the corresponding period of the previous fiscal. 

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