New Delhi, September 30: Combined Index of Eight Core Industries stood at 117.6 in August 2020. Notably, as compared to the last year, there is a decline of 8.5 percent. According to the Ministry of Commerce and Industry, Its cumulative growth during April to August, 2020-21 has been -17.8 percent. Meanwhile, the ministry revised the final growth rate of Index of Eight Core Industries for May’2020 to (-) 21.4 percent. India’s Core Industrial Output Down 10% in July Due COVID-19 Pandemic.

Coal production increased by 3.6 percent in August, 2020 over August, 2019. Its cumulative index declined by 10.2 percent during April to August, 2020-21 over corresponding period of the previous year. Crude Oil production declined by 6.3 per cent in August, 2020 over August, 2019. Its cumulative index declined by 6.1 per cent during April to August, 2020-21 over the corresponding period of previous year. India's Core Industrial Output Declined by 15% in June.

Similarly, The Natural Gas production declined by 9.5 per cent in August, 2020 over August, 2019. Petroleum Refinery production declined by 19.1 per cent in August, 2020 over August, 2019. Fertilizers production increased by 7.3 per cent in August, 2020 over August, 2019. Steel production declined by 6.3 per cent in August, 2020 over August, 2019. Decline is also reported in Cement production and Electricity generation.

Notably, India's Gross Domestic Product growth for the first quarter of FY-2020-21 contracted by 23.9 percent. The fall in GDP is considered to be worst in the last four decades since the country started reporting quarterly data in 1996. Also, India's GDP contraction is amongst the highest in countries' list whose economies were sliced by the COVID-19 pandemic.

(The above story first appeared on LatestLY on Sep 30, 2020 05:57 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).