Combined index of eight core industries stood at 124.2 in October 2020

The combined Index of Eight Core Industries stood at 124.2 in October 2020, which declined by 2.5 (provisional) per cent as compared to the Index of October 2019. Its cumulative growth during April to October 2020-21 has been (-) 13.0 per cent.

The Office of Economic Adviser, Department for Promotion of Industry and Internal Trade released the Index of Eight Core Industries for the Month of October 2020. The final growth rate of Index of Eight Core Industries for July′2020 is revised to (-) 7.6 per cent. The Eight Core Industries comprise 40.27 per cent of the weight of items included in the Index of Industrial Production (IIP). Details of yearly/monthly index and growth rate is provided at annexure, according to an official release.

The summary of the Index of Eight Core Industries states--Coal- Coal production (weight: 10.33 per cent) increased by 11.6 per cent in October 2020 over October 2019. Its cumulative index declined by 3.6per cent during April to October, 2020-21over corresponding period of the previous year.

Crude Oil- Crude Oil production (weight: 8.98per cent) declined by 6.2 per cent in October 2020 over October 2019. Its cumulative index declined by 6.1 per cent during April to October, 2020-21over the corresponding period of the previous year.

Natural Gas- The Natural Gas production (weight:6.88per cent) declinedby8.6 per cent in October 2020 over October 2019. Its cumulative index declined by 12.5 per cent during April to October 2020-21 over the corresponding period of the previous year.

Refinery Products- Petroleum Refinery production (weight: 28.04per cent) declined by17.0 per cent in October 2020 over October 2019. Its cumulative index declined by 16.4per cent during April to October, 2020-21over the corresponding period of the previous year.

Fertilizers- Fertilizers production (weight: 2.63 per cent) increased by 6.3 per cent in October 2020 over October 2019. Its cumulative index increased by 4.1 per cent during April to October 2020-21 over the corresponding period of the previous year.

Steel- Steel production (weight: 17.92per cent) declined by 2.7 per cent in October 2020 over October 2019. Its cumulative index declined by 22.8 per cent during April to October 2020-21 over the corresponding period of the previous year.

Cement- Cement production (weight:5.37per cent) increased by 2.8per cent in October 2020 over October 2019. Its cumulative index declinedby21.3 per cent during April to October, 2020-21over the corresponding period of the previous year.

Electricity- Electricity generation (weight:19.85per cent) increased by10.5per cent in October,2020over October,2019. Its cumulative index declined by 5.6per cent during April to October, 2020-21over the corresponding period of the previous year.