Eight core industries’ output contracts 2.5 pc in October

By: |
November 27, 2020 6:25 PM

The production of eight core sectors had contracted 5.5 per cent in October 2019, data released by the Commerce and Industry Ministry showed on Friday.

During April-October, the sectors' output declined by 13 per cent as compared to a growth of 0.3 per cent in the same period of the previous year.During April-October, the sectors' output declined by 13 per cent as compared to a growth of 0.3 per cent in the same period of the previous year.

Contracting for the eighth consecutive month, the output of eight core infrastructure sectors dropped by 2.5 per cent in October, mainly due to decline in production of crude oil, natural gas, refinery products and steel.

The production of eight core sectors had contracted 5.5 per cent in October 2019, data released by the Commerce and Industry Ministry showed on Friday.

While coal, fertiliser, cement and electricity recorded positive growth, crude oil, natural gas, refinery products and steel registered negative growth in the month under review.

During April-October, the sectors’ output declined by 13 per cent as compared to a growth of 0.3 per cent in the same period of the previous year.

Do you know What is Positive GDP growth seen in Q3, need to fight inflation: RB, Cash Reserve Ratio (CRR), Finance Bill, Fiscal Policy in India, Expenditure Budget? FE Knowledge Desk explains each of these and more in detail at Financial Express Explained. Also get Live BSE/NSE Stock Prices, latest NAV of Mutual Funds, Best equity funds, Top Gainers, Top Losers on Financial Express. Don’t forget to try our free Income Tax Calculator tool.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1Economy likely to contract up to 7.5% this fiscal, may see 9-11% growth in FY22: Former CEA Arvind Virmani
2Exports up marginally to USD 27.15 billion in December
3Forex reserves up by USD 758 mn to lifetime high of USD 586.082 bn