As per the new data coming out from the Ministry of Commerce and Industry, the output of eight core sectors of the Indian industry – coal, crude oil, natural gas, refinery products, fertiliser, steel, cement and electricity – declined by 0.5% in August compared to the same month last year.
These eight sectors have 40.27% of the weight of all sectors that figure in the monthly Index of Industrial Production data.
The core sectors had expanded by 4.7% in August 2018. In July, the growth was 2.7%, much slower than the 7.3% growth in July 2017. The growth was 0.7% in June and 3.8% in May.
During April-August, growth in the eight core industries grew by 2.4 per cent from 5.7 per cent in the year-ago period.
Production in five of the sectors – coal, crude oil, natural gas, cement and electricity – declined in August. The steel sector showed the best growth, of 5%, during the month, while coal performed the worst, declining 8.6%.