(The Gist of PIB) Index of Eight Core Industries [JUNE-2020]

(The Gist of PIB) Index of Eight Core Industrie

The Office of Economic Adviser, Department for Promotion of Industry and Internal Trade (DPIIT) released the Index of Eight Core Industries (Base: 2011-12=100) for the Month of April, 2020.

The growth rate of Index of Eight Core Industries for April 2020 declined by 38.1% (provisional) compared to decline of 9% (provisional) previous month of March 2020.
In view of nationwide lockdown during April 2020 due to COVID-19 pandemic, various industries viz. Coal, Cement, Steel, Natural Gas, Refinery, Crude Oil etc. experienced substantial loss of production.
Production of coal, crude oil, natural gas, refinery products, fertiliser, steel, cement and electricity contracted by 15.5%, 6.4%, 19.9%, 24.2%, 4.5%, 83.9%, 86%, 22.8%, respectively.
The Eight Core Industries comprise 40.27 percent of the weight of items included in the Index of Industrial Production (IIP).
During 2019-20, core industries recorded 0.6% growth against 4.4% in 2018-19.