Business

Core industrial output crashes by over 38 per cent in April

The growth of eight core industries in India declined by a steep 38.1 per cent during April 2020 in view of the nationwide lockdown due to COVID-19 pandemic as against the 9 per cent decline witnessed in March this year.

migrator

New Delhi

Government released the index of eight core Industries for April which showed various industries like coal, cement and steel experienced substantial loss of production. The figures released by the Office of Economic Adviser, Department for Promotion of Industry and Internal Trade said final growth rate of index of eight core industries for Jan 2020 remained unchanged at 2.2%. The January growth rate shows economy was in decline even before COVID-19 forced lockdown was declared from March 25. The eight core industries comprise 40.27 pc of the weight of items included in the Index of Industrial Production. As per the summary of the index of eight core industries, coal production (weight: 10.33per cent) dipped by 15.5 per cent in April 2020 over April 2019.

Visit news.dtnext.in to explore our interactive epaper!

Download the DT Next app for more exciting features!

Click here for iOS

Click here for Android

We won't let you be silenced, DMK tells its virtual warriors

New Collectors for Chennai, Tiruvallur in latest IAS reshuffle by TVK govt

Southwest monsoon may advance further into parts of Tamil Nadu by June 3-4

Seven Dalits injured in attacks by gang in Tenkasi, Tirunelveli districts

D K Shivakumar elected Cong legislature party leader, set to be new Karnataka CM