Activity Of Core Industries In India Shrank At A Slower Pace In July Than June

On Monday, the government released data on the Index of Eight Core Industries for the month of July, which shrank at a slower pace than in June, as the country started unlocking economic activities amid the coronavirus pandemic. The combined index stood at 119.9 in July, which is a 9.6 percent year-on-year decline when compared to 12.9 percent contraction seen in the month before.

The cumulative growth for the financial year so far, that is from April to July 2020 was -20.5 percent.

The Eight Core Industries comprise 40.27 percent of the weight of items included in the Index of Industrial Production (IIP).

Details:

1. Coal production declined by 5.7 percent in July 2020 over July 2019.
2. Crude Oil production declined by 4.9 percent from July 2019.
3. Natural Gas production slipped by 10.2 percent in July from the same month a year ago.
4. Petroleum Refinery production fell by 13.9 percent on a year-on-year basis.
5. Fertilizers production was down by 6.9 percent in July 2020.
6. Steel production declined by 16.4 percent in July from a year ago.
7. Cement production fell 13.5 percent from the same month last year.
8. Electricity generation slipped 2.3 percent in July 2020.