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Monday, November 23, 2020

Core industries’ output shrinks for 7th month

In September 2019, the production of eight core sectors had shrunk 5.1 per cent, data released by the Commerce and Industry Ministry showed on Thursday.

By: ENS Economic Bureau | New Delhi | Updated: October 30, 2020 10:36:47 am
Barring coal, electricity and steel, all sectors — crude oil, natural gas, refinery products, fertilizer and cement — recorded negative growth in September 2020.

Contracting for the seventh consecutive month, the output of eight core infrastructure sectors declined by 0.8 per cent in September, primarily due to fall in production of crude oil, natural gas, refinery products and cement.

In September 2019, the production of eight core sectors had shrunk 5.1 per cent, data released by the Commerce and Industry Ministry showed on Thursday.

The decline in output last month was lowest since March.

Barring coal, electricity and steel, all sectors — crude oil, natural gas, refinery products, fertilizer and cement — recorded negative growth in September 2020.

During April-September, the sectors’ output dropped by 14.9 per cent, as compared to a growth of 1.3 per cent in the same period of the previous year.

Meanwhile, the government’s fiscal deficit rose to Rs 9.14 lakh crore, about 114.8 per cent of the annual budget estimate (BE), in the first six months of the current fiscal, mainly on account of poor revenue realisation.

The revenue realisation in FY21 suffered on account of the lockdown imposed by the government.

In absolute terms, the deficit was Rs 9,13,993 crore, as per the data released by the Controller General of Accounts (CGA).

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